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December 22, 2024 |
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| Home > Small Business Lenders by State > Nevada Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > S.M. Terelak, Inc. Loan | ||||
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Business Loans for Sparks Small Business Owners
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Wells Fargo Bank Provides SBA Loan to Buy Allstate Insurance FranchiseNeed money to invest in an Allstate Insurance franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Sparks, Nevada needed money to invest in an Allstate Insurance franchise back in 2005. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Nevada small business loan. SBA Loan Borrower S.M. TERELAK, INC. 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 524210 - Insurance Agencies and Brokerages Loan Approval Date 8/24/2005 Loan Approval Gross Amount $114,000 Loan Approval from the SBA Of the total $114,000 loan amount, the SBA guaranteed $96,900. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy an Allstate Insurance franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding. 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: Realistic Debt Financing Options Best Banks in San Jose, California
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