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November 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Plumbing, Heating, And Air-Conditioning Contractors Loan | ||||
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Tips for Businesses On Getting a Loan
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Plumbing, Heating, and Air-Conditioning Contractors Commercial LoansLooking for commercial loans for plumbing, heating, and air-conditioning contractors? Try the SBA. This $59,000 plumbing, heating, and air-conditioning contractors loan was issued by a California bank. This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Wells Fargo Bank, out of San Jose, California. The loan was granted and they received $59,000 to help grow their Ottumwa, Iowa business. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS SBA Loan Lender WELLS FARGO BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 8/24/2004 Loan Approval Gross Amount $59,000 Loan Approval from the SBA Of the total $59,000 loan amount, the SBA guaranteed $50,150. 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 4 employees. This SBA loan request did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Small Bank Loans in San Jose, California
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