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November 14, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Clothing Stores Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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Financing for Clothing StoresLooking for loans for clothing stores? The SBA may be the answer. This $28,000 clothing stores loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Montrose, Colorado was able to borrow $28,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $14,000 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: CLOTHING STORES SBA Loan Lender WELLS FARGO BANK 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 448190 - Clothing Stores Loan Approval Date 8/30/2004 Loan Approval Gross Amount $28,000 Loan Approval from the SBA Of the total $28,000 loan amount, the SBA guaranteed $14,000. 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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 $28,000 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: Banking Deregulation's Effects on Entrepreneurship Best Banks in San Jose, California Find an SBA Lender in California
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