How to Get a Loan for Painting and Wall Covering

With these SBA loans for painting and wall covering, the SBA guarantees the lender that the loan will be repaid. This painting and wall covering loan for $97,300 was given to an Idaho entrepreneur in 2000.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Wells Fargo Bank, out of Sioux Falls, South Dakota. The loan was granted and they received $97,300 to help grow their Twin Falls, Idaho business.

SBA Loan Borrower

COMPANY TYPE: PAINTING AND PAPER HANGING
TWIN FALLS, ID 83301

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

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

8/10/2000

Loan Approval Gross Amount

$97,300

Loan Approval from the SBA

Of the total $97,300 loan amount, the SBA guaranteed $77,840.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 14 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Dealing With Venture Capitalists

SBA 7A Banks for Sioux Falls, South Dakota Loans

SBA Participating Banks in South Dakota