Wells Fargo Bank Gives Small Business Loan to Lessors Of Nonresidential Buildings Company
MinnesotaSmall business loans are available to Minnesota small business owners through the SBA. In this case, a California bank provides the loan.
Getting a small business loan in Lewiston, Minnesota was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank. Here are the details on this Minnesota small business loan.
SBA Loan Borrower
COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS
LEWISTON, MN 55952
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
531120 - Lessors of Nonresidential Buildings
Loan Approval Date
12/2/2004
Loan Approval Gross Amount
$139,200
Loan Approval from the SBA
Of the total $139,200 loan amount, the SBA guaranteed $104,400.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Although it's called an SBA loan, 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.
While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Financing Your Business
SBA 7A Banks for San Jose, California Loans
Browse All Business Loan Sources for California