Loan to Buy U Build It Franchise Issued By Wachovia Bank

Need money to invest in an U Build It franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Apex, North Carolina needed money to invest in an U Build It franchise back in 2004. Wachovia Bank issued an SBA franchise loan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

AJ & ASSOCIATES, INC.
Apex, NC 27523

SBA Loan Lender

WACHOVIA BANK
301 S COLLEGE ST MAIN LOBBY
CHARLOTTE, NC 28202

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

236118 - Residential Remodelers

Loan Approval Date

11/10/2004

Loan Approval Gross Amount

$108,800

Loan Approval from the SBA

Of the total $108,800 loan amount, the SBA guaranteed $54,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an U Build It franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Wachovia Bank and they will explain how you can get an SBA loan for your company.

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:

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Banks in Charlotte, North Carolina

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