Inglewood, California Business Gets SBA-Guaranteed Funding from Wells Fargo Bank

An SBA loan from Wells Fargo Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Inglewood, California business owner got a $147,700 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Inglewood, California was able to borrow $147,700 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $125,545 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
INGLEWOOD, CA 90302

SBA Loan Lender

WELLS FARGO BANK
177 PARK AVE, STE 300, A-0514
SAN JOSE, CA 95113

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

12/16/2003

Loan Approval Gross Amount

$147,700

Loan Approval from the SBA

Of the total $147,700 loan amount, the SBA guaranteed $125,545.

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 2 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $147,700 loan. Remember, where there is a will, there is a way!

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:

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