Wells Fargo Bank SBA Loan to No Industry Type Specified Company

Want a Minnesota business loan? Here's one Minnesota business loan that was approved by the SBA.

This up and coming company knew how to go about getting a business bank loan. Based in Woodbury, Minnesota, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Wells Fargo Bank, based in Minneapolis, Minnesota.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
WOODBURY, MN 55125

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

This lender provides SBA loan for small businesses 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

541710 -

Loan Approval Date

10/20/2000

Loan Approval Gross Amount

$137,200

Loan Approval from the SBA

Of the total $137,200 loan amount, the SBA guaranteed $102,900.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 50 employees. The SBA loan documents indicated that the loan would help retain 50 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

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