Santa Monica, California Business Gets SBA-Guaranteed Funding from Wells Fargo Bank
Wells Fargo Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Santa Monica, California was able to borrow $117,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $99,450 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: CHILDREN'S AND INFANTS' CLOTHING STORES
SANTA MONICA, CA 90405
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
This lender issued this debt financing under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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
448130 - Children's and Infants' Clothing Stores
Loan Approval Date
12/17/2003
Loan Approval Gross Amount
$117,000
Loan Approval from the SBA
Of the total $117,000 loan amount, the SBA guaranteed $99,450.
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 SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide smart, affordable business financing for small businesses looking to expand.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wells Fargo Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wells Fargo Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
Equity Financing
Where to Get an SBA Loan in San Jose, California
Where to Get an SBA Loan California