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December 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Personal Services Loan | ||||
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Raising Money in Moorhead, Minnesota With SBA Loans
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Personal Services LoansWith these loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $50,000 was given to a Minnesota entrepreneur in 2001. Getting a small business loan in Moorhead, Minnesota was important for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank, operating out of Minneapolis, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES 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 812990 - Personal Services Loan Approval Date 6/29/2001 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 10 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 10 existing jobs. Start the Process for Getting an SBA Loan Today! If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great funding source The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wells Fargo Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wells Fargo Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Microlending as a Small Business Funding Source Small Bank Loans in Minneapolis, Minnesota
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