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April 29, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Roseville, Business Loans > Wachovia Sba Lending, Inc. Roseville Business Loans > Elementary And Secondary Schools Loan | ||||
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What Does It Take to Get a Business Loan in Harrisonburg, Virginia?
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Small Business Loans for Elementary and Secondary SchoolsLooking for small business loans for elementary and secondary schools? Try the SBA. This $345,000 elementary and secondary schools loan was issued by a California bank. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Wachovia Sba Lending, Inc., out of Roseville, California. The loan was granted and they received $345,000 to help grow their Harrisonburg, Virginia business. SBA Loan Borrower COMPANY TYPE: ELEMENTARY AND SECONDARY SCHOOLS SBA Loan Lender WACHOVIA SBA LENDING, INC. As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 611110 - Elementary and Secondary Schools Loan Approval Date 3/21/2003 Loan Approval Gross Amount $345,000 Loan Approval from the SBA Of the total $345,000 loan amount, the SBA guaranteed $258,750. 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 63 employees. This SBA loan request indicated that the loan would help generate 13 new jobs and retain 50 existing jobs. Next Steps for Getting an SBA Loan If you are working on finding money to start a business in Harrisonburg VA, you ought to talk with a local Harrisonburg SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Harrisonburg businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Obtaining Funding - Friends and Family Best Roseville, California Banks for Small Business
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