Portsmouth, Virginia Business Gets SBA-Guaranteed Funding from Wachovia Bank

An SBA loan from Wachovia Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Portsmouth, Virginia business owner got a $39,200 loan.

Getting a small business loan in Portsmouth, Virginia was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Wachovia Bank, operating out of Winston Salem, North Carolina. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
PORTSMOUTH, VA 23703

SBA Loan Lender

WACHOVIA BANK
100 N MAIN ST
WINSTON SALEM, NC 27101

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

8/10/2000

Loan Approval Gross Amount

$39,200

Loan Approval from the SBA

Of the total $39,200 loan amount, the SBA guaranteed $19,600.

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 only one employee. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 9 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Portsmouth or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Small Business Credit Cards

Good Banks for Small Business in Winston Salem, North Carolina

North Carolina SBA Bank Lenders