Business Loan from Wachovia Bank Given to Full-Service Restaurants Company
An SBA loan from Wachovia Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Andalusia, Alabama business owner got a $255,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Andalusia, Alabama was able to borrow $255,000 from Wachovia Bank. The SBA made the loan possible by guaranteeing $191,250 of this Alabama small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
ANDALUSIA, AL 36420
SBA Loan Lender
420 N 20TH ST
BIRMINGHAM, AL 35203
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
722110 - Full-Service Restaurants
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $255,000 loan amount, the SBA guaranteed $191,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 20 employees. The SBA loan application for the borrower indicated that the loan would help retain 20 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Many small businesses receive loans backed by the U.S. Small Business Administration.
This SBA loan was for $255,000. How would you spend $255,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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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