Consumer Electronics and Appliances Rental Commercial Loans
With these commercial loans for consumer electronics and appliances rental, the SBA guarantees the lender that the loan will be repaid. This consumer electronics and appliances rental loan for $358,000 was given to a Colorado entrepreneur in 2006.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fort Collins, Colorado was able to borrow $358,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $268,500 of this Colorado small business loan.
SBA Loan Borrower
COMPANY TYPE: CONSUMER ELECTRONICS AND APPLIANCES RENTAL
FORT COLLINS, CO 80526
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
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
532210 - Consumer Electronics and Appliances Rental
Loan Approval Date
9/29/2006
Loan Approval Gross Amount
$358,000
Loan Approval from the SBA
Of the total $358,000 loan amount, the SBA guaranteed $268,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 4 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wells Fargo Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wells Fargo Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
Business Credit Evaluation
Best San Jose, California Banks for Small Business
Find an SBA Lender in California