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May 4, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Book Stores Loan | ||||
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Wells Fargo Bank SBA 7A Loans
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Bank Loans for Book StoresLooking for bank loans for book stores? Talk to a banker who works with the SBA. This $62,000 book stores loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Brandon, South Dakota was able to borrow $62,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $52,700 of this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: BOOK STORES SBA Loan Lender WELLS FARGO BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 451211 - Book Stores Loan Approval Date 9/16/2004 Loan Approval Gross Amount $62,000 Loan Approval from the SBA Of the total $62,000 loan amount, the SBA guaranteed $52,700. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $62,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links:
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