Electronic Auctions Small Business Loans
With these small business loans for electronic auctions, the SBA guarantees the lender that the loan will be repaid. This electronic auctions loan for $223,300 was given to a California entrepreneur in 2006.
Getting a small business loan in Upland, California was important for this growing firm back in 2006 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 California small business loan.
SBA Loan Borrower
COMPANY TYPE: ELECTRONIC AUCTIONS
UPLAND, CA 91786
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
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 dates back to 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
454112 - Electronic Auctions
Loan Approval Date
11/15/2006
Loan Approval Gross Amount
$223,300
Loan Approval from the SBA
Of the total $223,300 loan amount, the SBA guaranteed $167,475.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 4 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.
Getting an SBA Loan For Your Business
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Wells Fargo Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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.
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