Durham, North Carolina Business Gets SBA-Guaranteed Funding from Wachovia Sba Lending, Inc.

Wachovia Sba Lending, Inc. has a track record as a leading provider of SBA loans. Find out how this North Carolina entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Durham, North Carolina was able to borrow $925,300 from Wachovia Sba Lending, Inc.. The SBA made the loan possible by guaranteeing $693,975 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: OUTPATIENT MENTAL HEALTH AND SUBSTANCE ABUSE CENTERS
DURHAM, NC 27707

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621420 - Outpatient Mental Health and Substance Abuse Centers

Loan Approval Date

10/14/2005

Loan Approval Gross Amount

$925,300

Loan Approval from the SBA

Of the total $925,300 loan amount, the SBA guaranteed $693,975.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 159 employees. The loan application indicated that the loan would help retain 159 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

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