Business Loan from Wachovia Sba Lending, Inc. Given to Motor Vehicle Transmission And Power Train Parts Manufacturing Company
Wachovia Sba Lending, Inc. and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level.
Getting a small business loan in San Antonio, Texas was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Wachovia Sba Lending, Inc., operating out of Roseville, California. Here are the details on this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: MOTOR VEHICLE TRANSMISSION AND POWER TRAIN PARTS MANUFACTURING
SAN ANTONIO, TX 78203
SBA Loan Lender
WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661
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
336350 - Motor Vehicle Transmission and Power Train Parts Manufacturing
Loan Approval Date
4/12/2006
Loan Approval Gross Amount
$1,320,200
Loan Approval from the SBA
Of the total $1,320,200 loan amount, the SBA guaranteed $990,150.
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 15 employees. The loan application indicated that the loan would help retain 15 existing jobs.
Getting an SBA Loan For Your Business
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.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,320,200 loan. Remember, where there is a will, there is a way!
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:
Choosing VC Firms
SBA 7A Banks in Roseville, California
Getting an SBA Loan in California