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April 30, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Winston Salem, Business Loans > Wachovia Bank Winston Salem Business Loans > Grocery Stores Loan | ||||
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Tips for Business Owners On Getting a Loan
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Supermarkets and Grocery Stores Bank LoansWith these bank loans for supermarkets and grocery stores, the SBA guarantees the lender that the loan will be repaid. This supermarkets and grocery stores loan for $104,000 was given to a Virginia entrepreneur in 2000. This company knew how to go about getting a business bank loan. Based in Front Royal, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Wachovia Bank, based in Winston Salem, North Carolina. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender WACHOVIA BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 5411 - Grocery Stores NAICS Code 445110 - Supermarkets and Grocery Stores Loan Approval Date 2/23/2000 Loan Approval Gross Amount $104,000 Loan Approval from the SBA Of the total $104,000 loan amount, the SBA guaranteed $52,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $104,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA 7A Banks in Winston Salem, North Carolina
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