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May 2, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Golden Valley, Business Loans > Wells Fargo Bank Golden Valley Business Loans > Sign-A-Rama, Inc. Loan | ||||
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Raising Money in Maple Grove, Minnesota With SBA Loans
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Minnesota Entrepreneur Secures Financing to Buy Sign-A-Rama FranchiseNeed a loan to purchase a Sign-A-Rama franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. Sign-A-Rama franchise loans are available to Maple Grove, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wells Fargo Bank, based in Golden Valley, Minnesota, issued an SBA franchise loan for a Sign-A-Rama franchise in 2001. We've got all the details on this Minnesota small business loan. SBA Loan Borrower SIGN-A-RAMA, INC. SBA Loan Lender WELLS FARGO BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves 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 3993 - Signs and Advertising Specialties NAICS Code 339950 - Sign Manufacturing Loan Approval Date 12/13/2001 Loan Approval Gross Amount $83,400 Loan Approval from the SBA Of the total $83,400 loan amount, the SBA guaranteed $70,890. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Sign-A-Rama franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Wells Fargo Bank and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding - How to Borrow Money Best Golden Valley, Minnesota Banks for Small Business
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