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April 28, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Roseville, Business Loans > Wachovia Sba Lending, Inc. Roseville Business Loans > Motorcycle, Atv, And Personal Watercraft Dealers Loan | ||||
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What Does It Take to Get a Business Loan in Ottawa, Illinois?
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Bank Loans for Motorcycle, ATV, and Personal Watercraft DealersWith these bank loans for motorcycle, atv, and personal watercraft dealers, the SBA guarantees the lender that the loan will be repaid. This motorcycle, atv, and personal watercraft dealers loan for $277,000 was given to an Illinois entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ottawa, Illinois was able to borrow $277,000 from Wachovia Sba Lending, Inc.. The SBA made the loan possible by guaranteeing $207,750 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: MOTORCYCLE, ATV, AND PERSONAL WATERCRAFT DEALERS 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 441221 - Motorcycle, ATV, and Personal Watercraft Dealers Loan Approval Date 6/9/2005 Loan Approval Gross Amount $277,000 Loan Approval from the SBA Of the total $277,000 loan amount, the SBA guaranteed $207,750. 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 23 employees. The SBA loan documents indicated that the loan would help retain 23 existing jobs. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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. Related Links: Accountant's Role in Securing Financing Best Banks for Small Business in Roseville, California Getting an SBA Loan in California
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