Wells Fargo Bank SBA Loan to No Industry Type Specified Company

Looking to get a Minnesota SBA 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 Maple Grove, Minnesota was able to borrow $87,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $73,950 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
MAPLE GROVE, MN 55369

SBA Loan Lender

WELLS FARGO BANK
90 S 7TH ST
MINNEAPOLIS, MN 55402

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.

NAICS Code

518111 -

Loan Approval Date

4/20/2005

Loan Approval Gross Amount

$87,000

Loan Approval from the SBA

Of the total $87,000 loan amount, the SBA guaranteed $73,950.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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