Palmer, Alaska Business Gets SBA-Guaranteed Funding from Wells Fargo Bank

An SBA loan from Wells Fargo Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Palmer, Alaska business owner got a $35,300 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Palmer, Alaska was able to borrow $35,300 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $30,005 of this Alaska small business loan.

SBA Loan Borrower

COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT
PALMER, AK 99645

SBA Loan Lender

WELLS FARGO BANK
581 W PARKS HWY
WASILLA, AK 99654

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program involves 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

541921 - Photography Studios, Portrait

Loan Approval Date

5/27/2003

Loan Approval Gross Amount

$35,300

Loan Approval from the SBA

Of the total $35,300 loan amount, the SBA guaranteed $30,005.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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