Winina, Minnesota Business Gets SBA-Guaranteed Funding from Wells Fargo Bank International

An SBA loan from Wells Fargo Bank International typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Winina, Minnesota business owner got a $118,500 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Winina, Minnesota was able to borrow $118,500 from Wells Fargo Bank International. The SBA made the loan possible by guaranteeing $100,725 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
WININA, MN 54629

SBA Loan Lender

WELLS FARGO BANK INTERNATIONAL
45 BROADWAY, 24TH FL
NEW YORK CITY, NY 10006

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

3/22/2004

Loan Approval Gross Amount

$118,500

Loan Approval from the SBA

Of the total $118,500 loan amount, the SBA guaranteed $100,725.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wells Fargo Bank International 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 International 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:

Financing Your Business

Where to Get an SBA Loan in New York City, New York

New York SBA Bank Lenders