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November 23, 2024 |
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| Home > Small Business Lenders by State > Nebraska Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Manufacturing Loan | ||||
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Wells Fargo Bank Business Loan
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Business Loan from Wells Fargo Bank Given to Manufacturing CompanyWells Fargo Bank has a track record as a leading provider of SBA loans. Find out how this Nebraska entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Lincoln, Nebraska, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Wells Fargo Bank, based in San Jose, California. SBA Loan Borrower COMPANY TYPE: MANUFACTURING SBA Loan Lender WELLS FARGO BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 339999 - Manufacturing Loan Approval Date 5/11/2006 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 20 employees. The SBA loan documents indicated that the loan would help generate 30 new jobs and retain 20 existing jobs. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Who Lends Money to Small Businesses in San Jose, California SBA Participating Banks in California
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