Wachovia Sba Lending, Inc. SBA Loan to Lessors Of Nonresidential Buildings Company
An SBA loan from Wachovia Sba Lending, Inc. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Colorado Springs, Colorado business owner got a $880,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Colorado Springs, Colorado was able to borrow $880,000 from Wachovia Sba Lending, Inc.. The SBA made the loan possible by guaranteeing $660,000 of this Colorado small business loan.
SBA Loan Borrower
COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS
COLORADO SPRINGS, CO 80903
SBA Loan Lender
WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661
This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
531120 - Lessors of Nonresidential Buildings
Loan Approval Date
12/19/2002
Loan Approval Gross Amount
$880,000
Loan Approval from the SBA
Of the total $880,000 loan amount, the SBA guaranteed $660,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 39 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees 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.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wachovia Sba Lending, Inc. and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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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