Ypsilanti, North Dakota Business Gets SBA-Guaranteed Funding from Wells Fargo Bank

Wells Fargo Bank has a track record as a leading provider of SBA loans. Find out how this North Dakota entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Ypsilanti, North Dakota, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Wells Fargo Bank, based in Minneapolis, Minnesota.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
YPSILANTI, ND 58497

SBA Loan Lender

WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541330 - Engineering Services

Loan Approval Date

6/2/2003

Loan Approval Gross Amount

$65,600

Loan Approval from the SBA

Of the total $65,600 loan amount, the SBA guaranteed $55,760.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Ypsilanti ND, you ought to talk with a local Ypsilanti SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ypsilanti businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $65,600 loan. Remember, feel the fear, and do it anyway.

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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