Business Loan from Wells Fargo Bank Given to Excavation Contractors 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 Pueblo, Colorado business owner got a $131,400 loan.

Getting a small business loan in Pueblo, Colorado was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank, operating out of Pueblo, Colorado. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION CONTRACTORS
PUEBLO, CO 81006

SBA Loan Lender

WELLS FARGO BANK
1515 SANTA FE DR
PUEBLO, CO 81006

This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

12/23/2003

Loan Approval Gross Amount

$131,400

Loan Approval from the SBA

Of the total $131,400 loan amount, the SBA guaranteed $111,690.

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 15 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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:

Raising VC Money for Social Networking Companies

Where to Get an SBA Loan in Pueblo, Colorado

SBA Colorado Banks