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November 14, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Automotive Exhaust System Repair Loan | ||||
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Minneapolis, Minnesota Bank for SBA Loans
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Minneapolis, Minnesota Bank Gives SBA Loan to Automotive Exhaust System Repair CompanyA Minneapolis, Minnesota business loan can be yours. Learn how a business got a $201,300 business loan from this Minnesota bank. This loan to a local firm is a good example of an SBA loan. Wells Fargo Bank made the loan and the SBA guaranteed a portion of the loan. Many other Illinois entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE EXHAUST SYSTEM REPAIR SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811112 - Automotive Exhaust System Repair Loan Approval Date 5/15/2003 Loan Approval Gross Amount $201,300 Loan Approval from the SBA Of the total $201,300 loan amount, the SBA guaranteed $150,975. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 9 new jobs and retain 10 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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: Role of Business Plan When Raising Money Best Minneapolis, Minnesota Banks for Small Business
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