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May 18, 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 > Personal Services Loan | ||||
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Get Commercial Loans in Chesapeake, Virginia
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Wachovia Bank Gives SBA Loan to Personal Services CompanyBusiness loans in Virginia are hard to find these days. We take a look at one Virginia business loan, provided by a North Carolina bank, that was approved by the SBA. Getting a small business loan in Chesapeake, Virginia was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Wachovia Bank. Here are the details on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES 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. SIC Code 7299 - Personal Services Loan Approval Date 5/23/2000 Loan Approval Gross Amount $105,000 Loan Approval from the SBA Of the total $105,000 loan amount, the SBA guaranteed $52,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Determining Proper Capital Structure for a Business SBA Participating Banks in Winston Salem, North Carolina North Carolina SBA Bank Lenders
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