Wells Fargo Bank Provides SBA Loan to Buy Line-X Franchise
Borrowing money to buy a Line-X franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.
If you live near Colorado Springs, Colorado and are interested in buying a Line-X franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Wells Fargo Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.
SBA Loan Borrower
LINEX CORPORATION OF COLORADO
COLORADO SPRINGS, CO 80903
SBA Loan Lender
WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418
This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
811121 - Automotive Body, Paint, and Interior Repair and Maintenance
Loan Approval Date
9/26/2003
Loan Approval Gross Amount
$96,000
Loan Approval from the SBA
Of the total $96,000 loan amount, the SBA guaranteed $48,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Line-X franchise. At the time of the loan, the company
had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
We can help you find the best banks for small businesses in Colorado Springs or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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.
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