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April 25, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Sioux Falls, Business Loans > Wells Fargo Bank Sioux Falls Business Loans > Wine & Spirit By Jd Inc Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Borrow Money to Buy a Mgm Liquor FranchiseBorrowing money to buy a Mgm Liquor franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Mgm Liquor franchise requires some effort but others before you have been successful. In 2007, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Tonka Bay, Minnesota. Because Mgm Liquor was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis. SBA Loan Borrower WINE & SPIRIT BY JD INC SBA Loan Lender WELLS FARGO BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 445310 - Beer, Wine, and Liquor Stores Loan Approval Date 10/30/2007 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Mgm Liquor franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: A Company That Helps Entrepreneurs Where to Get an SBA Loan in Sioux Falls, South Dakota
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