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April 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Wells Fargo Bank, Ltd. Los Angeles Business Loans > Metal Tank Manufacturing Loan | ||||
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Wells Fargo Bank, Ltd.
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SBA Loan from Wells Fargo Bank, Ltd. Helps Metal Tank Manufacturing CompanyWells Fargo Bank, Ltd. has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bakersfield, California was able to borrow $1,315,000 from Wells Fargo Bank, Ltd.. The SBA made the loan possible by guaranteeing $986,250 of this California small business loan. SBA Loan Borrower COMPANY TYPE: METAL TANK MANUFACTURING SBA Loan Lender WELLS FARGO BANK, LTD. The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332420 - Metal Tank Manufacturing Loan Approval Date 9/23/2004 Loan Approval Gross Amount $1,315,000 Loan Approval from the SBA Of the total $1,315,000 loan amount, the SBA guaranteed $986,250. 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 37 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,315,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Best Banks for Small Business in Los Angeles, California
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