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November 15, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Charlotte, Business Loans > Wachovia Bank Charlotte Business Loans > Industrial Machinery And Equipment Merchant Wholesalers Loan | ||||
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Advice for Business Owners On Getting a Loan
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Industrial Machinery and Equipment Merchant Wholesalers Business LoansLooking for business loans for industrial machinery and equipment merchant wholesalers? Talk to a banker who works with the SBA. This $100,000 industrial machinery and equipment merchant wholesalers loan was issued by a North Carolina bank. This business knew how to go about getting a business bank loan. Based in Fort Mill, South Carolina, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Wachovia Bank, based in Charlotte, North Carolina. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender WACHOVIA BANK The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 423830 - Industrial Machinery and Equipment Merchant Wholesalers Loan Approval Date 2/8/2008 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: A Company That Helps Entrepreneurs SBA 7A Banks in Charlotte, North Carolina
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