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April 25, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Austin, Business Loans > Wells Fargo Bank Austin Business Loans > Fastsigns Loan | ||||
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Business Loans for Albuquerque Small Businesses
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Albuquerque, NM Entrepreneur Gets SBA Loan to Buy Fastsigns FranchiseBorrowing money to purchase a Fastsigns franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Fastsigns franchise? If so, here's a 2000 SBA franchise loan that you should know about. Wells Fargo Bank was the lender and the entrepreneur was based in Albuquerque, New Mexico. SBA Loan Borrower FASTSIGNS 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. SIC Code 3993 - Signs and Advertising Specialties NAICS Code 339950 - Sign Manufacturing Loan Approval Date 6/29/2000 Loan Approval Gross Amount $270,000 Loan Approval from the SBA Of the total $270,000 loan amount, the SBA guaranteed $202,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Fastsigns franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 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: Role of Business Plan When Raising Money SBA 7A Banks for Austin, Texas Loans
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