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April 29, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Electrical Contractors And Wiring Installation Contractors Loan | ||||
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Tips for Small Businesses On Getting a Loan
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Electrical Contractors and Wiring Installation Contractors Small Business LoansWith these small business loans for electrical contractors and wiring installation contractors, the SBA guarantees the lender that the loan will be repaid. This electrical contractors and wiring installation contractors loan for $399,000 was given to a Colorado entrepreneur in 2006. This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Wells Fargo Bank, out of San Jose, California. The loan was granted and they received $399,000 to help grow their Denver, Colorado business. SBA Loan Borrower COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238210 - Electrical Contractors and Wiring Installation Contractors Loan Approval Date 3/1/2006 Loan Approval Gross Amount $399,000 Loan Approval from the SBA Of the total $399,000 loan amount, the SBA guaranteed $299,250. 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 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Microlending as a Small Business Funding Source SBA 7A Banks for San Jose, California Loans
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