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| Entrepreneur Resources | Wells Fargo Bank Austin Business Loans | ||||
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Tyler Small Business Loans from Wells Fargo Bank
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Tyler, Texas Business Gets SBA-Guaranteed Funding from Wells Fargo BankWells Fargo Bank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.
Getting a small business loan in Tyler, Texas was an essential business goal for Alexis Animal Clinic back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank, operating out of Austin, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower ALEXIS ANIMAL CLINIC SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541940 - Veterinary Services Loan Approval Date 3/5/2003 Loan Approval Gross Amount $237,000 Loan Approval from the SBA Of the total $237,000 loan amount, the SBA guaranteed $177,750. More Information on This SBA Loan The borrower, Alexis Animal Clinic, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help create 1 new job. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Determining Proper Capital Structure for a Business Small Bank Loans in Austin, Texas If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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