 |
 |
May 2, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Minnesota Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Painting And Wall Covering Contractors Loan | ||||
 |
||||
SBA Lenders in Minnesota
|
||||
 |
Painting and Wall Covering Contractors LoansLooking for loans for painting and wall covering contractors? An SBA loan may be just what you've been looking for. This $130,000 painting and wall covering contractors loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Buffalo, Minnesota was able to borrow $130,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $65,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: PAINTING AND WALL COVERING CONTRACTORS SBA Loan Lender WELLS FARGO BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 238320 - Painting and Wall Covering Contractors Loan Approval Date 7/13/2006 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $65,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 14 employees. The SBA loan documents indicated that the funding would help create 8 new jobs. Next Steps for Getting an SBA Loan 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. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Wells Fargo Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Determining Proper Capital Structure for a Business
|
|
||
|
||||
|
|
||||