SBA Loan from Wachovia Bank Helps Construction And Mining Machinery And Equipment Wholesale Company

An SBA loan from Wachovia Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Allentown, Pennsylvania business owner got a $833,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Allentown, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Wachovia Bank, based in Philadelphia, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY AND EQUIPMENT WHOLESALE
ALLENTOWN, PA 18106

SBA Loan Lender

WACHOVIA BANK
123 S BROAD ST
PHILADELPHIA, PA 19109

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421810 - Construction and Mining Machinery and Equipment Wholesale

Loan Approval Date

11/30/2001

Loan Approval Gross Amount

$833,000

Loan Approval from the SBA

Of the total $833,000 loan amount, the SBA guaranteed $749,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Allentown or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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