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November 24, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Sioux Falls, Business Loans > Wells Fargo Bank Sioux Falls Business Loans > Shoe Stores Loan | ||||
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I Need an SBA Loan in Denver, Colorado
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Shoe Stores Commercial LoansWith these commercial loans for shoe stores, the SBA guarantees the lender that the loan will be repaid. This shoe stores loan for $1,642,000 was given to a Colorado entrepreneur in 2007. Getting a small business loan in Denver, Colorado was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank, operating out of Sioux Falls, South Dakota. Here are the details on this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: SHOE STORES SBA Loan Lender WELLS FARGO BANK This lender provides SBA commercial 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 448210 - Shoe Stores Loan Approval Date 1/15/2007 Loan Approval Gross Amount $1,642,000 Loan Approval from the SBA Of the total $1,642,000 loan amount, the SBA guaranteed $1,231,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 20 existing jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Role of Business Plan When Raising Money SBA 7A Lenders in Sioux Falls, South Dakota
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