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May 6, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Beauty Salons Loan | ||||
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How to Get an SBA Loan in Rochester, Minnesota
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Minnesota SBA Loan Issued to Beauty Salons CompanyMinnesotaBank loans are available to Minnesota firms through the SBA. In this case, a California bank provides the loan. You can learn something about getting a small business loan in Rochester, Minnesota by studying this loan to a local company, made back in 2005. Banks like Wells Fargo Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 6/2/2005 Loan Approval Gross Amount $116,700 Loan Approval from the SBA Of the total $116,700 loan amount, the SBA guaranteed $99,195. More Information on This SBA Loan The borrower borrowed this money for a new 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 documents indicated that the loan would help generate 9 new jobs and retain 12 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wells Fargo Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wells Fargo Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Best San Jose, California Banks for Small Business
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