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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Sioux Falls, Business Loans > Wells Fargo Bank Sioux Falls Business Loans > Fastsigns Of Elk Grove Loan | ||||
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Where to Get a Bank Loan to Purchase a Franchise
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Wells Fargo Bank Provides SBA Loan to Buy Fastsigns FranchiseBorrowing money to invest in a Fastsigns franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Fastsigns franchise is doable. In 2007, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Elk Grove, California. Because Fastsigns was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis. SBA Loan Borrower FASTSIGNS OF ELK GROVE SBA Loan Lender WELLS FARGO BANK This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 323119 - Commercial Printing Loan Approval Date 5/30/2007 Loan Approval Gross Amount $372,400 Loan Approval from the SBA Of the total $372,400 loan amount, the SBA guaranteed $279,300. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Fastsigns franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Good Banks for Small Business in Sioux Falls, South Dakota
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