Business Loan from Wells Fargo Bank Given to Medical, Dental, And Hospital Equipment And Supplies Merchant Wholesalers Company
Wells Fargo Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lino Lakes, Minnesota was able to borrow $303,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $227,250 of this Minnesota small business loan.
SBA Loan Borrower
COMPANY TYPE: MEDICAL, DENTAL, AND HOSPITAL EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS
LINO LAKES, MN 55014
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
423450 - Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers
Loan Approval Date
3/5/2004
Loan Approval Gross Amount
$303,000
Loan Approval from the SBA
Of the total $303,000 loan amount, the SBA guaranteed $227,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 14 employees. The SBA loan documents indicated that the loan would help retain 14 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide money to small business owners for working capital for other expenses.
If you need to find money for a business, 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.
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