Business Loan from Wells Fargo Bank Given to Mortgage And Nonmortgage Loan Brokers Company

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 Phoenix, Arizona business owner got a $100,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Phoenix, Arizona, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Wells Fargo Bank, based in Phoenix, Arizona.

SBA Loan Borrower

COMPANY TYPE: MORTGAGE AND NONMORTGAGE LOAN BROKERS
PHOENIX, AZ 85020

SBA Loan Lender

WELLS FARGO BANK
100 W WASHINGTON ST
PHOENIX, AZ 85003

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

522310 - Mortgage and Nonmortgage Loan Brokers

Loan Approval Date

4/15/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 40 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 40 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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.

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Small Business Banks in Phoenix, Arizona

Getting a Business Loan in Arizona