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May 8, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Plastics Products Loan | ||||
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Banks in Minneapolis, Minnesota That Make SBA Loans
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Minneapolis, Minnesota Lender Lends Money to Plastics Products CompanyThinking about meeting with a Minneapolis, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a Minneapolis bank, that was approved by the SBA. Applying for an SBA loan with Wells Fargo Bank worked out well for our friends at one local firm in Chaska, Minnesota. The business was able to get an SBA loan for $825,000. Awesome! SBA Loan Borrower COMPANY TYPE: PLASTICS PRODUCTS SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3089 - Plastics Products Loan Approval Date 5/23/2000 Loan Approval Gross Amount $825,000 Loan Approval from the SBA Of the total $825,000 loan amount, the SBA guaranteed $618,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 27 new jobs and retain 1 existing job. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Wells Fargo Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: A Company That Helps Entrepreneurs Best Banks in Minneapolis, Minnesota
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