SBA Loan from Wells Fargo Bank Helps Limousine Service Company
Wells Fargo Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Blaine, Minnesota was able to borrow $89,500 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $44,750 of this Minnesota small business loan.
SBA Loan Borrower
COMPANY TYPE: LIMOUSINE SERVICE
BLAINE, MN 55449
SBA Loan Lender
WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418
The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
485320 - Limousine Service
Loan Approval Date
11/13/2002
Loan Approval Gross Amount
$89,500
Loan Approval from the SBA
Of the total $89,500 loan amount, the SBA guaranteed $44,750.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.
Getting an SBA Loan For Your Business
If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source
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:
Small Business Loan
SBA Participating Banks in Minneapolis, Minnesota
Minnesota SBA 7A Lenders