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April 25, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Martinizing Dry Cleaning Loan | ||||
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Shakopee, Minnesota Bank for SBA Loans
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Borrow Money to Buy a Martinizing Dry Cleaning FranchiseNeed money to purchase a Martinizing Dry Cleaning franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. Martinizing Dry Cleaning franchise loans are available to Shakopee, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wells Fargo Bank, based in San Jose, California, issued an SBA franchise loan for a Martinizing Dry Cleaning franchise in 2005. We've got all the details on this Minnesota small business loan. SBA Loan Borrower MARTINIZING DRY CLEANING SBA Loan Lender WELLS FARGO BANK This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 11/14/2005 Loan Approval Gross Amount $328,000 Loan Approval from the SBA Of the total $328,000 loan amount, the SBA guaranteed $246,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Martinizing Dry Cleaning franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help create 4 new jobs. Getting an SBA Loan For Your Business 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: Banking Deregulation's Effects on Entrepreneurship Best Banks for Small Business in San Jose, California
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