Business Loan from Wachovia Bank Given to Physicians Company

Wachovia Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a North Carolina entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gastonia, North Carolina was able to borrow $100,000 from Wachovia Bank. The SBA made the loan possible by guaranteeing $50,000 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
Gastonia, NC 28056

SBA Loan Lender

WACHOVIA BANK
301 S COLLEGE ST MAIN LOBBY
CHARLOTTE, NC 28202

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

621111 - Physicians

Loan Approval Date

4/3/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Wachovia Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

504 Loans

Best Banks for Small Business in Charlotte, North Carolina

SBA North Carolina Banks