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May 16, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Winston Salem, Business Loans > Wachovia Bank Winston Salem Business Loans > Charter Bus Industry Loan | ||||
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SBA 7A Banks for Businesses in Virginia
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Virginia SBA Loan Issued to Charter Bus Industry CompanyLooking to get a Virginia business loan? This Virginia entrepreneur got a business loan, provided by a North Carolina bank that works with the SBA to help small business owners. This small business, based in Alexandria, Virginia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Wachovia Bank. We've got the inside scoop on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: CHARTER BUS INDUSTRY SBA Loan Lender WACHOVIA BANK 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 485510 - Charter Bus Industry Loan Approval Date 3/18/2003 Loan Approval Gross Amount $117,500 Loan Approval from the SBA Of the total $117,500 loan amount, the SBA guaranteed $58,750. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. The loan application indicated that the loan would help generate 3 new jobs and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Borrowing Money from Friends and Family SBA Banks in Winston Salem, North Carolina
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