Wells Fargo Bank SBA Loan to No Industry Type Specified Company

Searching for a Minnesota small business loan? Here's one Minnesota business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Loretto, Minnesota was able to borrow $50,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $25,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
LORETTO, MN 55357

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

421310 -

Loan Approval Date

9/24/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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