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December 20, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Duluth, Business Loans > Wells Fargo Bank Duluth Business Loans > Eating Places Loan | ||||
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Minnesota Bank SBA Loans
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Wells Fargo Bank SBA Loan to Eating Places CompanyWant a Minnesota small business loan? Here's one Minnesota business loan that was approved by the SBA. This up and coming company knew how to go about getting a business bank loan. Based in Fridley, Minnesota, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Wells Fargo Bank, based in Duluth, Minnesota. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender WELLS FARGO BANK This lender provides SBA small business 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. SIC Code 5812 - Eating Places Loan Approval Date 4/25/2000 Loan Approval Gross Amount $430,000 Loan Approval from the SBA Of the total $430,000 loan amount, the SBA guaranteed $322,500. 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 24 employees. The SBA loan documents indicated that the loan would help retain 24 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Banking Deregulation's Effects on Entrepreneurship Best Banks in Duluth, Minnesota Getting an SBA Loan in Minnesota
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