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November 15, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Sioux Falls, Business Loans > Wells Fargo Bank Sioux Falls Business Loans > New Single-Family Housing Construction Loan | ||||
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Northglenn, Colorado Bank Loan
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Business Loans for New Single-Family Housing ConstructionLooking for business loans for new single-family housing construction? The SBA may be the answer. This $75,000 new single-family housing construction loan was issued by a South Dakota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Northglenn, Colorado was able to borrow $75,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $37,500 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION SBA Loan Lender WELLS FARGO BANK The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 236115 - New Single-Family Housing Construction Loan Approval Date 3/16/2007 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 16 employees. The loan application indicated that the loan would help retain 16 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Find an SBA Lender in Sioux Falls, South Dakota
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