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May 1, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Roseville, Business Loans > Wachovia Sba Lending, Inc. Roseville Business Loans > Communication Equipment Repair And Maintenance Loan | ||||
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How Do We Get a Business Loan in San Bernardino, California?
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Business Loans for Communication Equipment Repair and MaintenanceWith these business loans for communication equipment repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This communication equipment repair and maintenance loan for $516,000 was given to a California entrepreneur in 2005. This small business knew how to go about getting a business bank loan. Based in San Bernardino, California, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Wachovia Sba Lending, Inc., based in Roseville, California. SBA Loan Borrower COMPANY TYPE: COMMUNICATION EQUIPMENT 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 811213 - Communication Equipment Repair and Maintenance Loan Approval Date 2/11/2005 Loan Approval Gross Amount $516,000 Loan Approval from the SBA Of the total $516,000 loan amount, the SBA guaranteed $387,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs. Next Steps for Getting an SBA Loan 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 - How to Decide How Much to Raise Best Banks for Small Business in Roseville, California
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