Eau Claire, Wisconsin Business Gets SBA-Guaranteed Funding from Wells Fargo Bank
An SBA loan from Wells Fargo Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Eau Claire, Wisconsin business owner got a $56,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Eau Claire, Wisconsin was able to borrow $56,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $47,600 of this Wisconsin small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
EAU CLAIRE, WI 54703
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
811198 - Automotive Repair and Maintenance
Loan Approval Date
1/23/2003
Loan Approval Gross Amount
$56,000
Loan Approval from the SBA
Of the total $56,000 loan amount, the SBA guaranteed $47,600.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had only one employee. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Many small businesses receive loans backed by the U.S. Small Business Administration.
This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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.
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