Wells Fargo Bank Provides SBA Loan to Buy Mack Trucks dealers Franchise

Need a loan to invest in a Mack Trucks dealers franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Fort Dodge, Iowa and are interested in buying a Mack Trucks dealers franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Wells Fargo Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

REES TRUCK & TRAILER, INC.
FORT DODGE, IA 50501

SBA Loan Lender

WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5511 - Motor Vehicle Dealers

NAICS Code

441110 - New Car Dealers

Loan Approval Date

11/29/2000

Loan Approval Gross Amount

$472,700

Loan Approval from the SBA

Of the total $472,700 loan amount, the SBA guaranteed $354,525.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mack Trucks dealers franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My 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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

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SBA 7A Banks in Minneapolis, Minnesota

SBA Lenders in Minnesota