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December 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Commercial Equipment Wholesalers Loan | ||||
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Best Banks That Lend to Minnesota Business Owners
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Minnesota SBA Loan Issued to Commercial Equipment Wholesalers CompanyMinnesotaSBA loans are available to Minnesota entrepreneurs through the SBA. In this case, a Minnesota bank provides the loan. You can learn something about getting a small business loan in St. Cloud, Minnesota by studying this loan to a local business, made back in 2000. Banks like Wells Fargo Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL EQUIPMENT WHOLESALERS SBA Loan Lender WELLS FARGO BANK This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 421440 - Commercial Equipment Wholesalers Loan Approval Date 10/26/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Microlending as a Small Business Funding Source Banks in Minneapolis, Minnesota
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