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December 21, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Highway, Street, And Bridge Construction Loan | ||||
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Minnesota SBA Banks
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Minneapolis, Minnesota Bank Gives SBA Loan to Highway, Street, And Bridge Construction CompanyThinking about meeting with a Minneapolis, Minnesota bank about a small business loan? Here's one New Mexico business loan, issued by a Minneapolis bank, that was approved by the SBA. Applying for an SBA loan with Wells Fargo Bank worked out well for our friends at one local company in Albuquerque, New Mexico. The business was able to get an SBA loan for $1,930,000. Sweet! SBA Loan Borrower COMPANY TYPE: HIGHWAY, STREET, AND BRIDGE CONSTRUCTION SBA Loan Lender WELLS FARGO BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business 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 237310 - Highway, Street, and Bridge Construction Loan Approval Date 10/26/2007 Loan Approval Gross Amount $1,930,000 Loan Approval from the SBA Of the total $1,930,000 loan amount, the SBA guaranteed $1,447,500. 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 40 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 30 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wells Fargo Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wells Fargo Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Find an SBA Lender in Minneapolis, Minnesota Getting an SBA Loan in Minnesota
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