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April 29, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > The Melting Pot Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Wells Fargo Bank Provides SBA Loan to Buy Melting Pot FranchiseBorrowing money to invest in a Melting Pot franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Melting Pot franchise shouldn't be too tough. In 2002, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Irvine, California. Because Melting Pot was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis. SBA Loan Borrower THE MELTING POT SBA Loan Lender WELLS FARGO BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 4/17/2002 Loan Approval Gross Amount $463,400 Loan Approval from the SBA Of the total $463,400 loan amount, the SBA guaranteed $347,550. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Melting Pot franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 30 new jobs and retain 32 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. We can help you find the best banks for small businesses in Irvine or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Melting Pot Fondue Restaurants Dealing With Venture Capitalists Where to Get an SBA Loan in San Jose, California
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