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April 29, 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 > Specialized Design Services Loan | ||||
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SBA Loan from Wells Fargo Bank
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Wells Fargo Bank SBA Loan to Specialized Design Services CompanyWells Fargo Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Savage, Minnesota, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Wells Fargo Bank, based in San Jose, California. SBA Loan Borrower COMPANY TYPE: SPECIALIZED DESIGN SERVICES SBA Loan Lender WELLS FARGO BANK This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541490 - Specialized Design Services Loan Approval Date 9/20/2005 Loan Approval Gross Amount $612,000 Loan Approval from the SBA Of the total $612,000 loan amount, the SBA guaranteed $459,000. 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 4 employees. The loan application 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 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Wells Fargo Bank and they will explain how you can get an SBA loan for your company. 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: Microlending as a Small Business Funding Source Best San Jose, California Banks for Small Business Getting an SBA Loan in California
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