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November 23, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Repair Shops And Related Services Loan | ||||
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Minneapolis, Minnesota SBA 7A Banks
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Entrepreneur Works With Minneapolis, Minnesota Bank to Get an SBA LoanA Minneapolis, Minnesota small business loan can be yours. Learn how a company got a $221,000 business loan from this Minnesota bank. This loan to a local firm is a good example of an SBA loan. Wells Fargo Bank made the loan and the SBA guaranteed a portion of the loan. Many other Missouri entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES SBA Loan Lender WELLS FARGO BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7699 - Repair Shops and Related Services NAICS Code 442299 - Home Furnishings Stores Loan Approval Date 7/11/2001 Loan Approval Gross Amount $221,000 Loan Approval from the SBA Of the total $221,000 loan amount, the SBA guaranteed $165,750. 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 2 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Wells Fargo Bank and they will explain how you can get an SBA loan for your company. 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: Microlending as a Small Business Funding Source SBA 7A Banks in Minneapolis, Minnesota
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