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May 9, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Local Trucking Without Storage Loan | ||||
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Wells Fargo Bank
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SBA Loan from Wells Fargo Bank Helps Local Trucking Without Storage CompanyWells Fargo Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Michigan entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Gwinn, Michigan was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank, operating out of Minneapolis, Minnesota. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: LOCAL TRUCKING WITHOUT STORAGE SBA Loan Lender WELLS FARGO BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4212 - Local Trucking Without Storage NAICS Code 562111 - Solid Waste Collection Loan Approval Date 6/13/2002 Loan Approval Gross Amount $122,000 Loan Approval from the SBA Of the total $122,000 loan amount, the SBA guaranteed $103,700. 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 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wells Fargo Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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
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