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April 26, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Roseville, Business Loans > Wachovia Sba Lending, Inc. Roseville Business Loans > Consumer Electronics Repair And Maintenance Loan | ||||
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Tips for Business Owners On Getting a Loan
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Getting an SBA Loan for Consumer Electronics Repair and MaintenanceLooking for commercial loans for consumer electronics repair and maintenance? An SBA loan may be just what you've been looking for. This $800,200 consumer electronics repair and maintenance loan was issued by a California bank. This business knew how to go about getting a business bank loan. Based in Colorado Springs, Colorado, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Wachovia Sba Lending, Inc., based in Roseville, California. SBA Loan Borrower COMPANY TYPE: CONSUMER ELECTRONICS REPAIR AND MAINTENANCE SBA Loan Lender WACHOVIA SBA LENDING, INC. Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811211 - Consumer Electronics Repair and Maintenance Loan Approval Date 5/26/2004 Loan Approval Gross Amount $800,200 Loan Approval from the SBA Of the total $800,200 loan amount, the SBA guaranteed $600,150. 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 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. 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: Family and Friend Investors - Your First Financiers SBA 7A Lenders in Roseville, California
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