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November 21, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Automotive Parts And Accessories Stores Loan | ||||
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SBA Loan from Wells Fargo Bank
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SBA Loan from Wells Fargo Bank Helps Automotive Parts And Accessories Stores CompanyWells Fargo Bank has a track record as a leading provider of SBA loans. Find out how this Colorado entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rangely, Colorado was able to borrow $285,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $213,750 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES SBA Loan Lender WELLS FARGO BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 2/16/2005 Loan Approval Gross Amount $285,000 Loan Approval from the SBA Of the total $285,000 loan amount, the SBA guaranteed $213,750. 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. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wells Fargo Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Where to Get an SBA Loan in San Jose, California SBA Participating Banks in California
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