 |
 |
May 2, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Colorado Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Ups Store 1146 Loan | ||||
 |
||||
Wells Fargo Bank Commercial Loans for Franchisees
|
||||
 |
Loan to Buy Mail Boxes Etc. Usa Franchise Issued By Wells Fargo BankBorrowing money to buy a Mail Boxes Etc. Usa franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Colorado Springs, Colorado needed money to invest in a Mail Boxes Etc. Usa franchise back in 2003. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Colorado small business loan. SBA Loan Borrower UPS STORE 1146 SBA Loan Lender WELLS FARGO BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561431 - Private Mail Centers Loan Approval Date 9/8/2003 Loan Approval Gross Amount $145,500 Loan Approval from the SBA Of the total $145,500 loan amount, the SBA guaranteed $123,675. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Mail Boxes Etc. Usa franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Participating Banks in Minneapolis, Minnesota
|
|
||
|
||||
|
|
||||