SBA Loan from Wells Fargo Bank Helps Motion Picture And Video Production Company
Wells 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
NORTH HOLLYWOOD, CA 91601
SBA Loan Lender
WELLS FARGO BANK
177 PARK AVE, STE 300, A-0514
SAN JOSE, CA 95113
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
California SBA 7A Banks