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May 6, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Full-Service Restaurants Loan | ||||
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Wells Fargo Bank Mitchell, South Dakota
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Business Loan from Wells Fargo Bank Given to Full-Service Restaurants CompanyAn SBA loan from Wells Fargo Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mitchell, South Dakota business owner got a $25,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mitchell, South Dakota was able to borrow $25,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $12,500 of this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender WELLS FARGO BANK The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 722110 - Full-Service Restaurants Loan Approval Date 5/10/2004 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. 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. If you need emergency money for small 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. Related Links: Role of Business Plan When Raising Money Who Lends Money to Small Businesses in San Jose, California Browse All Business Loan Sources for California
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