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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Motion Picture And Video Production Loan | ||||
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SBA Lender North Hollywood, California
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SBA Loan from Wells Fargo Bank Helps Motion Picture And Video Production CompanyWells Fargo Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in North Hollywood, California, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Wells Fargo Bank, based in San Jose, California. SBA Loan Borrower COMPANY TYPE: MOTION PICTURE AND VIDEO PRODUCTION SBA Loan Lender WELLS FARGO BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 512110 - Motion Picture and Video Production Loan Approval Date 2/3/2003 Loan Approval Gross Amount $70,600 Loan Approval from the SBA Of the total $70,600 loan amount, the SBA guaranteed $60,010. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Borrowing Money from Friends and Family SBA Participating Banks in San Jose, California
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