SBA Loan from Wells Fargo Bank Helps Pharmaceutical Preparation Manufacturing Company

Wells Fargo Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Colorado entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Golden, Colorado was able to borrow $417,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $312,750 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: PHARMACEUTICAL PREPARATION MANUFACTURING
GOLDEN, CO 80403

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

325412 - Pharmaceutical Preparation Manufacturing

Loan Approval Date

9/26/2002

Loan Approval Gross Amount

$417,000

Loan Approval from the SBA

Of the total $417,000 loan amount, the SBA guaranteed $312,750.

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 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs.

Getting an SBA Loan For Your Business

Remember, you 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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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