Minneapolis, Minnesota Lender Lends Money to Office Equipment Merchant Wholesalers Company

Find Minneapolis, Minnesota banks that specialize in business loans and know how to work with entrepreneurs. Wells Fargo Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Austin, Texas starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Wells Fargo Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: OFFICE EQUIPMENT MERCHANT WHOLESALERS
AUSTIN, TX 78758

SBA Loan Lender

WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423420 - Office Equipment Merchant Wholesalers

Loan Approval Date

9/28/2007

Loan Approval Gross Amount

$872,000

Loan Approval from the SBA

Of the total $872,000 loan amount, the SBA guaranteed $654,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 38 employees. The loan application indicated that the loan would help generate 15 new jobs and retain 23 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are working on finding money to start a business in Austin TX, you ought to talk with a local Austin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Austin businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wells Fargo Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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