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November 21, 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 > Joey's Only Seafood Loan | ||||
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Raising Money in Apple Valley, Minnesota With SBA Loans
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Minnesota Entrepreneur Secures Financing to Buy Joey's Only FranchiseNeed a loan to buy a Joey's Only franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Joey's Only franchise requires some effort but others before you have been successful. In 2004, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Apple Valley, Minnesota. Because Joey's Only was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis. SBA Loan Borrower JOEY'S ONLY SEAFOOD SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 6/15/2004 Loan Approval Gross Amount $297,000 Loan Approval from the SBA Of the total $297,000 loan amount, the SBA guaranteed $222,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Joey's Only franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 22 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. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Joey's Only Seafood Restaurant Realistic Debt Financing Options Small Bank Loans in San Jose, California
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