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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Sioux Falls, Business Loans > Wells Fargo Bank Sioux Falls Business Loans > Coated And Laminated Paper Manufacturing Loan | ||||
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Minnesota SBA Loans from Wells Fargo Bank
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Wells Fargo Bank SBA Loan to Coated And Laminated Paper Manufacturing CompanyWells Fargo Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans. This business knew how to go about getting a business bank loan. Based in Hopkins, Minnesota, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Wells Fargo Bank, based in Sioux Falls, South Dakota. SBA Loan Borrower COMPANY TYPE: COATED AND LAMINATED PAPER MANUFACTURING SBA Loan Lender WELLS FARGO BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 322222 - Coated and Laminated Paper Manufacturing Loan Approval Date 4/25/2007 Loan Approval Gross Amount $381,000 Loan Approval from the SBA Of the total $381,000 loan amount, the SBA guaranteed $285,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan If you are working on finding money to start a business in Hopkins MN, you ought to talk with a local Hopkins SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hopkins businesses. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Banking Deregulation's Effects on Entrepreneurship Best Banks for Small Business in Sioux Falls, South Dakota
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