Borrowing Money for Book Stores

With these bank loans for book stores, the SBA guarantees the lender that the loan will be repaid. This book stores loan for $100,000 was given to a California entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Francisco, California was able to borrow $100,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $85,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: BOOK STORES
SAN FRANCISCO, CA 94118

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451211 - Book Stores

Loan Approval Date

7/2/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. 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?

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wells Fargo Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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SBA Lenders in South Dakota