Wells Fargo Bank SBA Loan to Used Merchandise Stores Company
Wells Fargo Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level.
This business knew how to go about getting a business bank loan. Based in Houston, Texas, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Wells Fargo Bank, based in San Jose, California.
SBA Loan Borrower
COMPANY TYPE: USED MERCHANDISE STORES
HOUSTON, TX 77065
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
453310 - Used Merchandise Stores
Loan Approval Date
4/13/2005
Loan Approval Gross Amount
$104,000
Loan Approval from the SBA
Of the total $104,000 loan amount, the SBA guaranteed $88,400.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Wells Fargo Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Bank Credit Lines
SBA Banks in San Jose, California
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