Business Loan from Wells Fargo Bank Given to Environmental Consulting Services Company

Wells Fargo Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Alaska entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Anchorage, Alaska was able to borrow $1,201,500 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $901,125 of this Alaska small business loan.

SBA Loan Borrower

COMPANY TYPE: ENVIRONMENTAL CONSULTING SERVICES
Anchorage, AK 99518

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541620 - Environmental Consulting Services

Loan Approval Date

11/20/2007

Loan Approval Gross Amount

$1,201,500

Loan Approval from the SBA

Of the total $1,201,500 loan amount, the SBA guaranteed $901,125.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 11 new jobs and retain 20 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Wells Fargo Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Getting a Small Business Loan

Where to Get an SBA Loan in Sioux Falls, South Dakota

Getting a Business Loan in South Dakota