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April 29, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Certa Pro Painters Loan | ||||
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Business Loans for Rice Businesses
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Borrow Money to Buy a Certa Propainters FranchiseNeed money to buy a Certa Propainters franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Certa Propainters franchise requires some effort but others before you have been successful. In 2001, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Rice, Minnesota. Because Certa Propainters was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis. SBA Loan Borrower CERTA PRO PAINTERS 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 1721 - Painting and Paper Hanging NAICS Code 235210 - Painting and Wall Covering Loan Approval Date 12/17/2001 Loan Approval Gross Amount $62,500 Loan Approval from the SBA Of the total $62,500 loan amount, the SBA guaranteed $53,125. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Certa Propainters franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the small 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? 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 Getting an SBA Loan in Minnesota
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