Minneapolis, Minnesota Bank Lends Money to Beer, Wine, And Liquor Stores Company in Grand Junction, Colorado
Get to know Minneapolis, Minnesota banks that specialize in SBA loans and know how to work with entrepreneurs. Wells Fargo Bank is one such bank, as evidenced by this SBA loan to a growing company.
Finding a small business loan in Grand Junction, Colorado starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Wells Fargo Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: BEER, WINE, AND LIQUOR STORES
GRAND JUNCTION, CO 81504
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
445310 - Beer, Wine, and Liquor Stores
Loan Approval Date
3/21/2001
Loan Approval Gross Amount
$168,000
Loan Approval from the SBA
Of the total $168,000 loan amount, the SBA guaranteed $126,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had only one employee. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 1 existing job.
Great, But How Can I Get an SBA Loan for My Business?
Every year, the SBA guarantees over $10 billion for loans just like this one.
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:
Advice on Getting a Small Business Loan
SBA 7A Banks in Minneapolis, Minnesota
Getting an SBA Loan in Minnesota