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May 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Sioux Falls, Business Loans > Wells Fargo Bank Sioux Falls Business Loans > Cafeterias, Grill Buffets, And Buffets Loan | ||||
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Raising Money in Pearland, Texas With SBA Loans
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Cafeterias, Grill Buffets, and Buffets Commercial LoansLooking for commercial loans for cafeterias, grill buffets, and buffets? The SBA may be the answer. This $585,000 cafeterias, grill buffets, and buffets loan was issued by a South Dakota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pearland, Texas was able to borrow $585,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $438,750 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: CAFETERIAS, GRILL BUFFETS, AND BUFFETS SBA Loan Lender WELLS FARGO BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722212 - Cafeterias, Grill Buffets, and Buffets Loan Approval Date 11/2/2007 Loan Approval Gross Amount $585,000 Loan Approval from the SBA Of the total $585,000 loan amount, the SBA guaranteed $438,750. 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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Realistic Debt Financing Options Small Bank Loans in Sioux Falls, South Dakota
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