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April 27, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Sioux Falls, Business Loans > Wells Fargo Bank Sioux Falls Business Loans > Metal Supermarkets Of Albuquer Loan | ||||
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New Mexico Small Business Funding for Franchises
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New Mexico Entrepreneur Secures Financing to Buy Metal Supermarkets FranchiseNeed a loan to purchase a Metal Supermarkets franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Albuquerque, New Mexico needed money to invest in a Metal Supermarkets franchise back in 2000. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this New Mexico small business loan. SBA Loan Borrower METAL SUPERMARKETS OF ALBUQUER SBA Loan Lender WELLS FARGO BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5051 - Metals Service Centers and Offices NAICS Code 421510 - Metal Service Centers and Offices Loan Approval Date 9/19/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Metal Supermarkets franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Metal Supermarkets International Banks in Sioux Falls, South Dakota
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