SBA Loan from Wells Fargo Bank Helps Electronic And Precision Equipment Repair And Maintenance Company

Wells Fargo Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Wyoming entrepreneur was able to get a loan to take a small business to the next level.

This growing company knew how to go about getting a business bank loan. Based in Mills, Wyoming, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Wells Fargo Bank, based in San Jose, California.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC AND PRECISION EQUIPMENT REPAIR AND MAINTENANCE
MILLS, WY 82604

SBA Loan Lender

WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811219 - Electronic and Precision Equipment Repair and Maintenance

Loan Approval Date

6/29/2005

Loan Approval Gross Amount

$919,500

Loan Approval from the SBA

Of the total $919,500 loan amount, the SBA guaranteed $689,625.

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 SBA loan documents indicated that the loan would help generate 5 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

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:

Accountant's Role in Securing Financing

SBA Banks in San Jose, California

Getting an SBA Loan in California