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May 7, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Virginia Beach, Business Loans > Wachovia Bank Virginia Beach Business Loans > Electrical And Electronic Repair Shops Loan | ||||
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Wachovia Bank
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Wachovia Bank SBA Loan to Electrical And Electronic Repair Shops CompanyWachovia Bank has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in Chesapeake, Virginia, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Wachovia Bank, based in Virginia Beach, Virginia. SBA Loan Borrower COMPANY TYPE: ELECTRICAL AND ELECTRONIC REPAIR SHOPS SBA Loan Lender WACHOVIA BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7629 - Electrical and Electronic Repair Shops Loan Approval Date 6/12/2000 Loan Approval Gross Amount $58,220 Loan Approval from the SBA Of the total $58,220 loan amount, the SBA guaranteed $46,576. 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 7 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This SBA loan was for $58,220. How would you spend $58,220 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. Related Links: Obtaining Funding - Getting Venture Capital SBA 7A Banks in Virginia Beach, Virginia
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