Wachovia Bank Gives Bank Loan to Limited-Service Restaurants Company
SBA loans in North Carolina are hard to find these days. We take a look at one North Carolina SBA loan, provided by a North Carolina bank, that was approved by the SBA.
This small business, based in Charlotte, North Carolina, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Wachovia Bank. We've got the inside scoop on this North Carolina small business loan.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
CHARLOTTE, NC 28280
SBA Loan Lender
WACHOVIA BANK
100 N MAIN ST
WINSTON SALEM, NC 27101
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
1/25/2002
Loan Approval Gross Amount
$245,000
Loan Approval from the SBA
Of the total $245,000 loan amount, the SBA guaranteed $183,750.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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 - Friends and Family
Where to Get an SBA Loan in Winston Salem, North Carolina
North Carolina SBA 7A Lenders