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November 21, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Administrative Management And General Management Consulting Services Loan | ||||
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SBA Lender Arizona
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Mesa, Arizona Business Gets SBA-Guaranteed Funding from Wells Fargo BankAn SBA loan from Wells Fargo Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mesa, Arizona business owner got a $20,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mesa, Arizona was able to borrow $20,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $10,000 of this Arizona small business loan. SBA Loan Borrower COMPANY TYPE: ADMINISTRATIVE MANAGEMENT AND GENERAL MANAGEMENT CONSULTING SERVICES SBA Loan Lender WELLS FARGO BANK This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 541611 - Administrative Management and General Management Consulting Services Loan Approval Date 3/7/2006 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA 7A Banks for San Jose, California Loans
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