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May 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Georgetown, Business Loans > Wells Fargo Bank Georgetown Business Loans > Fabricated Textile Products Loan | ||||
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Wells Fargo Bank
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SBA Loan from Wells Fargo Bank Helps Fabricated Textile Products CompanyWells Fargo Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Georgetown, Texas, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Wells Fargo Bank, based in Georgetown, Texas. SBA Loan Borrower COMPANY TYPE: FABRICATED TEXTILE PRODUCTS SBA Loan Lender WELLS FARGO BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2399 - Fabricated Textile Products Loan Approval Date 7/24/2000 Loan Approval Gross Amount $28,900 Loan Approval from the SBA Of the total $28,900 loan amount, the SBA guaranteed $23,120. More Information on This SBA Loan The borrower borrowed this money for a new 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 SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start business in Georgetown TX, you ought to talk with a local Georgetown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Georgetown businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wells Fargo Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Best Georgetown, Texas Banks for Small Business
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