Business Loan from Wells Fargo Bank Given to Eating Places 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 Slidell, Louisiana business owner got a $549,500 loan.

Getting a small business loan in Slidell, Louisiana was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank, operating out of Austin, Texas. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SLIDELL, LA 70461

SBA Loan Lender

WELLS FARGO BANK
912 S HWY 183
AUSTIN, TX 78741

This lender issued this SBA small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/25/2000

Loan Approval Gross Amount

$549,500

Loan Approval from the SBA

Of the total $549,500 loan amount, the SBA guaranteed $412,125.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 application for the borrower did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

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SBA 7A Banks in Austin, Texas

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