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November 21, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Phoenix, Business Loans > Wells Fargo Bank Phoenix Business Loans > Martinizing Dry Cleaning Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Mesa, AZ Entrepreneur Gets SBA Loan to Buy Martinizing Dry Cleaning FranchiseNeed a loan to buy a Martinizing Dry Cleaning franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Mesa, Arizona needed money to invest in a Martinizing Dry Cleaning franchise back in 2003. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Arizona small business loan. SBA Loan Borrower MARTINIZING DRY CLEANING SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 12/2/2003 Loan Approval Gross Amount $262,600 Loan Approval from the SBA Of the total $262,600 loan amount, the SBA guaranteed $196,950. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Martinizing Dry Cleaning franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $262,600 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Lenders in Phoenix, Arizona Where to Get an SBA Loan Arizona
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