Wachovia Bank Provides SBA Loan to Buy Dominic's Of New York Franchise

Need money to invest in a Dominic's Of New York franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA.

Dominic's Of New York franchise loans are available to Fredericksburg, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wachovia Bank, based in Winston Salem, North Carolina, issued an SBA franchise loan for a Dominic's Of New York franchise in 2000. We've got all the details on this Virginia small business loan.

SBA Loan Borrower

DOMINIC'S OF NEW YORK
FREDERICKSBURG, VA 22401

SBA Loan Lender

WACHOVIA BANK
100 N MAIN ST
WINSTON SALEM, NC 27101

The lender provided this SBA bank loan 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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/6/2000

Loan Approval Gross Amount

$27,000

Loan Approval from the SBA

Of the total $27,000 loan amount, the SBA guaranteed $13,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Dominic's Of New York franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source

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.

Related Links:

Dominic's of New York

Obtaining Funding - How to Decide How Much to Raise

Small Bank Loans in Winston Salem, North Carolina

North Carolina SBA Banks