Wells Fargo Bank SBA Loan to Transportation Services Company

An SBA loan from Wells Fargo Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Franklin, Wisconsin business owner got a $405,000 loan.

This business knew how to go about getting a business bank loan. Based in Franklin, Wisconsin, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Wells Fargo Bank, based in Minneapolis, Minnesota.

SBA Loan Borrower

COMPANY TYPE: TRANSPORTATION SERVICES
FRANKLIN, WI 53132

SBA Loan Lender

WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408

This loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending background and a thorough understanding of SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4789 - Transportation Services

NAICS Code

485999 - Transit and Ground Passenger Transportation

Loan Approval Date

7/1/2004

Loan Approval Gross Amount

$405,000

Loan Approval from the SBA

Of the total $405,000 loan amount, the SBA guaranteed $303,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 only one employee. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

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.

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