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December 22, 2024 |
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| Home > Small Business Lenders by State > Wyoming Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Midas Of Gillette Loan | ||||
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Banks for Gillette, Wyoming Businesses
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Borrow Money to Buy a Midas Muffler Shop FranchiseBorrowing money to purchase a Midas Muffler Shop franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Gillette, Wyoming needed money to invest in a Midas Muffler Shop franchise back in 2005. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Wyoming small business loan. SBA Loan Borrower MIDAS OF GILLETTE SBA Loan Lender WELLS FARGO BANK This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 811111 - General Automotive Repair Loan Approval Date 5/6/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Midas Muffler Shop franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 8 existing jobs. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Midas International Corporation A Company That Helps Entrepreneurs SBA 7A Lenders in San Jose, California
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