Entrepreneur Works With Charlotte, North Carolina Bank to Get an SBA Loan

Get to know Charlotte, North Carolina banks that specialize in business loans and know how to work with entrepreneurs. Wachovia Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Baltimore, Maryland starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Wachovia Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
Baltimore, MD 21236

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

812112 - Beauty Salons

Loan Approval Date

11/1/2004

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $80,000.

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 10 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, 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.

We can help you find the best banks for small businesses in Baltimore 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.

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