Raising Money for Iron and Steel Forging

With these bank loans for iron and steel forging, the SBA guarantees the lender that the loan will be repaid. This iron and steel forging loan for $1,357,000 was given to a Colorado entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Frederick, Colorado was able to borrow $1,357,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $750,000 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: IRON AND STEEL FORGING
FREDERICK, CO 80216

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

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

332111 - Iron and Steel Forging

Loan Approval Date

1/25/2001

Loan Approval Gross Amount

$1,357,000

Loan Approval from the SBA

Of the total $1,357,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 31 employees. The SBA loan documents indicated that the loan would help generate 11 new jobs and retain 42 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wells Fargo Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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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SBA Lenders in Minnesota