Wells Fargo Bank SBA Loan to Janitorial Services Company
Wells Fargo Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Michigan entrepreneur was able to get a loan to take a small business to the next level.
This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Wells Fargo Bank, out of San Jose, California. The loan was granted and they received $45,000 to help grow their Lowell, Michigan business.
SBA Loan Borrower
COMPANY TYPE: JANITORIAL SERVICES
LOWELL, MI 49331
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
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
561720 - Janitorial Services
Loan Approval Date
3/8/2005
Loan Approval Gross Amount
$45,000
Loan Approval from the SBA
Of the total $45,000 loan amount, the SBA guaranteed $22,500.
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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.
Getting an SBA Loan For Your Business
If you are wondering how to raise money for a business in Lowell MI, you ought to talk with a local Lowell SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lowell businesses.
While you may be able to find other ways to get money to start a business, 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:
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SBA 7A Banks in San Jose, California
SBA Lenders in California