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December 22, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Machine Tool Manufacturing Loan | ||||
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Getting a Business Loan in Austin, Texas
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Wells Fargo Bank Gives Business Loan to Machine Tool Manufacturing CompanySmall business loans in Texas are hard to find these days. We take a look at one Texas small business loan, provided by a California bank, that was approved by the SBA. Getting a small business loan in Austin, Texas was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE TOOL 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 333512 - Machine Tool Manufacturing Loan Approval Date 5/11/2004 Loan Approval Gross Amount $425,500 Loan Approval from the SBA Of the total $425,500 loan amount, the SBA guaranteed $319,125. 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 8 employees. The loan application indicated that the loan would help retain 8 existing jobs. Start the Process for Getting an SBA Loan Today! If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding. 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. Related Links: Best San Jose, California Banks for Small Business
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