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April 27, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > New Multifamily Housing Construction Loan | ||||
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SBA Lenders in Texas
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How to Get a Loan for New Multifamily Housing ConstructionWith these SBA loans for new multifamily housing construction, the SBA guarantees the lender that the loan will be repaid. This new multifamily housing construction loan for $100,000 was given to a Texas entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mcallen, Texas was able to borrow $100,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $50,000 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: NEW MULTIFAMILY HOUSING CONSTRUCTION SBA Loan Lender WELLS FARGO BANK This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 236116 - New Multifamily Housing Construction Loan Approval Date 10/5/2006 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA Banks in San Jose, California Getting an SBA Loan in California
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