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May 8, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Personal Care Services Loan | ||||
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Getting a Small Business Loan in Council Bluffs, Iowa
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Wells Fargo Bank Gives SBA Loan to Personal Care Services CompanyWould an Iowa business loan help your company expand? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Iowa entrepreneurs. By giving the right information to Wells Fargo Bank, this Council Bluffs, Iowa business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: PERSONAL CARE SERVICES SBA Loan Lender WELLS FARGO BANK This was a Low Documentation SBA loan. The SBA created 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812199 - Personal Care Services Loan Approval Date 2/22/2002 Loan Approval Gross Amount $46,200 Loan Approval from the SBA Of the total $46,200 loan amount, the SBA guaranteed $39,270. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wells Fargo Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 7A Lenders in Minneapolis, Minnesota
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