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November 21, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Greater Denver Mr. Rooter Loan | ||||
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Where Can I Find Franchise Loans in Denver, Colorado?
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Loan to Buy Mr. Rooter Franchise Issued By Wells Fargo BankNeed a loan to invest in a Mr. Rooter franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Denver, Colorado needed money to invest in a Mr. Rooter franchise back in 2005. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Colorado small business loan. SBA Loan Borrower GREATER DENVER MR. ROOTER 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 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 9/30/2005 Loan Approval Gross Amount $995,000 Loan Approval from the SBA Of the total $995,000 loan amount, the SBA guaranteed $746,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Mr. Rooter franchise. At the time of the loan, the company had 19 employees. The SBA loan documents indicated that the loan would help retain 19 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Banks for Small Business in San Jose, California
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