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December 22, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Home Furnishing Merchant Wholesalers Loan | ||||
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Utah Small Business Loans from Wells Fargo Bank
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Business Loan from Wells Fargo Bank Given to Home Furnishing Merchant Wholesalers CompanyAn SBA loan from Wells Fargo Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Springville, Utah business owner got a $40,000 loan. Getting a small business loan in Springville, Utah was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank, operating out of San Jose, California. Here are the details on this Utah small business loan. SBA Loan Borrower COMPANY TYPE: HOME FURNISHING MERCHANT WHOLESALERS SBA Loan Lender WELLS FARGO BANK The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 423220 - Home Furnishing Merchant Wholesalers Loan Approval Date 1/21/2003 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Banks for Small Business in San Jose, California
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