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May 2, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Phoenix, Business Loans > Wells Fargo Bank Phoenix Business Loans > Shoe Stores Loan | ||||
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Salt Lake City Small Business Loans from Wells Fargo Bank
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SBA Loan from Wells Fargo Bank Helps Shoe Stores CompanyWells Fargo Bank has a track record as a leading provider of SBA loans. Find out how this Utah entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Wells Fargo Bank, out of Phoenix, Arizona. The loan was granted and they received $85,400 to help grow their Salt Lake City, Utah business. SBA Loan Borrower COMPANY TYPE: SHOE STORES SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448210 - Shoe Stores Loan Approval Date 12/31/2002 Loan Approval Gross Amount $85,400 Loan Approval from the SBA Of the total $85,400 loan amount, the SBA guaranteed $72,590. 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. The SBA loan documents 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Where to Get an SBA Loan in Phoenix, Arizona
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