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April 28, 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 > Florists Loan | ||||
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SBA Lenders in California
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SBA Loan from Wells Fargo Bank Helps Florists CompanyWells Fargo Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level. This growing company knew how to go about getting a business bank loan. Based in La Canada, California, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Wells Fargo Bank, based in San Jose, California. SBA Loan Borrower COMPANY TYPE: FLORISTS 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 453110 - Florists Loan Approval Date 2/14/2003 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. If you need emergency business money, 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 Best Banks for Small Business in San Jose, California
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