California Entrepreneur Secures Financing to Buy Postal Connections Of America Franchise
Need a loan to buy a Postal Connections Of America franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy a Postal Connections Of America franchise is doable. In 2001, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Valencia, California. Because Postal Connections Of America was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.
SBA Loan Borrower
POSTAL CONNECTIONS OF AMERICA
VALENCIA, CA 91355
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
492110 - Couriers and Express Delivery Services
Loan Approval Date
9/21/2001
Loan Approval Gross Amount
$119,000
Loan Approval from the SBA
Of the total $119,000 loan amount, the SBA guaranteed $59,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Postal Connections Of America franchise. At the time of the loan, the company
had 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
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.
While you may be able to find business people willing to loan money, 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:
Postal Connections of America
Accountant's Role in Securing Financing
SBA Approved Banks in San Jose, California
California SBA 7A Lenders