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May 2, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Baked Goods Stores Loan | ||||
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What Does It Take to Get a Business Loan in South Milwaukee, Wisconsin?
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Financing for Baked Goods StoresLooking for commercial loans for baked goods stores? The SBA may be the answer. This $86,000 baked goods stores loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in South Milwaukee, Wisconsin was able to borrow $86,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $73,100 of this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: BAKED GOODS STORES 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 445291 - Baked Goods Stores Loan Approval Date 10/19/2004 Loan Approval Gross Amount $86,000 Loan Approval from the SBA Of the total $86,000 loan amount, the SBA guaranteed $73,100. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 38 employees. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 50 existing jobs. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Small Bank Loans in San Jose, California
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