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May 8, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Sioux Falls, Business Loans > Wells Fargo Bank Sioux Falls Business Loans > Surgical And Medical Instrument Manufacturing Loan | ||||
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Getting SBA Loans from Wells Fargo Bank
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SBA Loan from Wells Fargo Bank Helps Surgical And Medical Instrument Manufacturing 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 Sunnyvale, California business owner got a $662,500 loan. Getting a small business loan in Sunnyvale, California was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank, operating out of Sioux Falls, South Dakota. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: SURGICAL AND MEDICAL INSTRUMENT MANUFACTURING SBA Loan Lender WELLS FARGO BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339112 - Surgical and Medical Instrument Manufacturing Loan Approval Date 8/27/2007 Loan Approval Gross Amount $662,500 Loan Approval from the SBA Of the total $662,500 loan amount, the SBA guaranteed $496,875. 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 8 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 8 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wells Fargo Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Small Bank Loans in Sioux Falls, South Dakota
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