Entrepreneur Works With San Jose, California Bank to Get an SBA Loan

Want to talk with a San Jose, California bank about an SBA loan? Here's one Minnesota business loan, issued by a San Jose bank, that was approved by the SBA.

Applying for an SBA loan with Wells Fargo Bank worked out well for our friends at one local company in Minneapolis, Minnesota. The business was able to get an SBA loan for $604,500. Nice!

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
MINNEAPOLIS, MN 55406

SBA Loan Lender

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

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

4/2/2004

Loan Approval Gross Amount

$604,500

Loan Approval from the SBA

Of the total $604,500 loan amount, the SBA guaranteed $453,375.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your 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.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Wells Fargo Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Obtaining Funding - How to Borrow Money

SBA 7A Banks for San Jose, California Loans

California SBA Banks