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May 9, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Services For The Elderly And Persons With Disabilities Loan | ||||
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We Needed a Commercial Loan in Brooklyn Center, Minnesota and We Got One!
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Commercial Loans for Services for the Elderly and Persons with DisabilitiesLooking for commercial loans for services for the elderly and persons with disabilities? An SBA loan may be just what you've been looking for. This $476,000 services for the elderly and persons with disabilities loan was issued by a Minnesota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Brooklyn Center, Minnesota was able to borrow $476,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $357,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: SERVICES FOR THE ELDERLY AND PERSONS WITH DISABILITIES SBA Loan Lender WELLS FARGO BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624120 - Services for the Elderly and Persons with Disabilities Loan Approval Date 9/29/2003 Loan Approval Gross Amount $476,000 Loan Approval from the SBA Of the total $476,000 loan amount, the SBA guaranteed $357,000. 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 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Family and Friend Investors - Your First Financiers SBA Banks in Minneapolis, Minnesota
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