Wells Fargo Bank Provides SBA Loan to Buy Golden Corral restaurant Franchise

Need money to buy a Golden Corral restaurant franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Golden Corral restaurant franchise requires some effort but others before you have been successful. In 2001, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Cortez, Colorado. Because Golden Corral restaurant was registered with the SBA's registry of franchises, this Colorado small business loan was issued on an expedited basis.

SBA Loan Borrower

ROBERT E LANG AND JACQUELINE K
CORTEZ, CO 81321

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

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

722211 - Limited-Service Restaurants

Loan Approval Date

7/10/2001

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Golden Corral restaurant franchise. At the time of the loan, the company had 63 employees. This SBA loan request indicated that the loan would help retain 63 existing jobs.

Next Steps for Getting an SBA Loan

If you need business start up money in Cortez CO, you ought to talk with a local Cortez SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cortez businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Golden Corral Buffet & Grill

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SBA Participating Banks in Minneapolis, Minnesota

Getting an SBA Loan in Minnesota