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May 4, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Beauty Salons Loan | ||||
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Wells Fargo Bank SBA 7A Loans
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Beauty Salons Small Business LoansWith these small business loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $51,400 was given to a California entrepreneur in 2006. This company knew how to go about getting a business bank loan. Based in West Hollywood (br. P.O. Name, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Wells Fargo Bank, based in San Jose, California. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender WELLS FARGO BANK This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 5/8/2006 Loan Approval Gross Amount $51,400 Loan Approval from the SBA Of the total $51,400 loan amount, the SBA guaranteed $43,690. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 4 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Raising VC Money for Social Networking Companies Best San Jose, California Banks for Small Business
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