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April 27, 2024 |
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| Home > Small Business Lenders by State > Nebraska Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Learning Rx Loan | ||||
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How to Get SBA Loans in Lincoln, Nebraska
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Borrow Money to Buy a Learning Express FranchiseBorrowing money to buy a Learning Express franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Lincoln, Nebraska and are interested in buying a Learning Express franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Wells Fargo Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower LEARNING RX SBA Loan Lender WELLS FARGO BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program requires 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. NAICS Code 611691 - Exam Preparation and Tutoring Loan Approval Date 7/25/2003 Loan Approval Gross Amount $37,800 Loan Approval from the SBA Of the total $37,800 loan amount, the SBA guaranteed $32,130. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Learning Express franchise. At the time of the loan, the company had 14 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Good Banks for Small Business in Minneapolis, Minnesota
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