Business Loan from Wells Fargo Bank Given to Special Trade Contractors Company
Wells Fargo Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Utah entrepreneur was able to get a loan to take a small business to the next level.
This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Wells Fargo Bank, out of Phoenix, Arizona. The loan was granted and they received $165,000 to help grow their Riverton, Utah business.
SBA Loan Borrower
COMPANY TYPE: SPECIAL TRADE CONTRACTORS
RIVERTON, UT 84065
SBA Loan Lender
WELLS FARGO BANK
100 W WASHINGTON ST
PHOENIX, AZ 85003
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
235990 - Special Trade Contractors
Loan Approval Date
5/8/2002
Loan Approval Gross Amount
$165,000
Loan Approval from the SBA
Of the total $165,000 loan amount, the SBA guaranteed $123,750.
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 2 employees. The loan application indicated that the loan would help generate 25 new jobs and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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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