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November 22, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Real Estate Agents And Brokers Loan | ||||
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Examples of Gloversville SBA Loans
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Where to Get Capital for Real Estate Agents and BrokersLooking for small business loans for real estate agents and brokers? Talk to a banker who works with the SBA. This $25,000 real estate agents and brokers loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gloversville, New York was able to borrow $25,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $12,500 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: REAL ESTATE AGENTS AND BROKERS 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 531210 - Real Estate Agents and Brokers Loan Approval Date 10/13/2004 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job. 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Where to Get an SBA Loan in San Jose, California
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