SBA Loan from Wells Fargo Bank Helps Sporting Goods Stores And Bicycle Shops Company
Wells Fargo Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Mexico entrepreneur who tapped into the power of SBA loans.
Getting a small business loan in Farmington, New Mexico was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank, operating out of Austin, Texas. Here are the details on this New Mexico small business loan.
SBA Loan Borrower
COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
FARMINGTON, NM 87401
SBA Loan Lender
WELLS FARGO BANK
912 S HWY 183
AUSTIN, TX 78741
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
5941 - Sporting Goods Stores and Bicycle Shops
NAICS Code
451110 - Sporting Goods Stores
Loan Approval Date
7/3/2000
Loan Approval Gross Amount
$125,000
Loan Approval from the SBA
Of the total $125,000 loan amount, the SBA guaranteed $93,750.
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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
If you need emergency money for small 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.
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