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May 6, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Drug Stores And Proprietary Stores Loan | ||||
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How Do We Get a Business Loan in Dripping Springs, Texas?
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Pharmacies and Drug Stores Small Business LoansLooking for small business loans for pharmacies and drug stores? The SBA may be the answer. This $627,200 pharmacies and drug stores loan was issued by a California bank. This company knew how to go about getting a business bank loan. Based in Dripping Springs, Texas, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Wells Fargo Bank, based in San Jose, California. SBA Loan Borrower COMPANY TYPE: DRUG STORES AND PROPRIETARY STORES SBA Loan Lender WELLS FARGO BANK This debt financing was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA delivers a rapid loan approval or denial response. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5912 - Drug Stores and Proprietary Stores NAICS Code 446110 - Pharmacies and Drug Stores Loan Approval Date 3/8/2005 Loan Approval Gross Amount $627,200 Loan Approval from the SBA Of the total $627,200 loan amount, the SBA guaranteed $470,400. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Raising VC Money for Social Networking Companies SBA 7A Lenders in San Jose, California
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