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May 5, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Eating Places Loan | ||||
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Salem, Oregon Bank for SBA Loans
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Loans for Full-Service RestaurantsLooking for loans for full-service restaurants? The SBA may be the answer. This $65,000 full-service restaurants loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Salem, Oregon was able to borrow $65,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $55,250 of this Oregon small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender WELLS FARGO BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 6/19/2003 Loan Approval Gross Amount $65,000 Loan Approval from the SBA Of the total $65,000 loan amount, the SBA guaranteed $55,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Banks for Small Business in San Jose, California SBA Participating Banks in California
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