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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 > Professional Equipment And Supplies Merchant Wholesalers Loan | ||||
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SBA Lenders That Lend to Bloomington Small Business Owners
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Bloomington, Minnesota Entrepreneur Gets a Business LoanLooking to get a Minnesota SBA loan? This Minnesota entrepreneur got an SBA loan, provided by a California bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Bloomington, Minnesota by studying this loan to a local business, made back in 2005. Banks like Wells Fargo Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: PROFESSIONAL EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender WELLS FARGO BANK This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423490 - Professional Equipment and Supplies Merchant Wholesalers Loan Approval Date 4/5/2005 Loan Approval Gross Amount $328,000 Loan Approval from the SBA Of the total $328,000 loan amount, the SBA guaranteed $246,000. 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 18 employees. The SBA loan application for the borrower indicated that the loan would help retain 18 existing jobs. Next Steps for Getting an SBA Loan If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source 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: SBA Approved Banks in San Jose, California
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