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May 3, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > General Automotive Repair Loan | ||||
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SBA Lenders in Santa Clara
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Wells Fargo Bank SBA Loan to General Automotive Repair CompanyAn SBA loan from Wells Fargo Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Santa Clara, California business owner got a $25,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Santa Clara, California was able to borrow $25,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $18,750 of this California small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender WELLS FARGO BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 1/24/2003 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $18,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 7 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 7 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Obtaining Funding - Getting Venture Capital
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