Business Loan from Wachovia Sba Lending, Inc. Given to Automotive Body, Paint, And Interior Repair And Maintenance Company

Wachovia Sba Lending, Inc. and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level.

This business knew how to go about getting a business bank loan. Based in Freedom, California, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Wachovia Sba Lending, Inc., based in Roseville, California.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
FREEDOM, CA 95019

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

9/27/2002

Loan Approval Gross Amount

$796,000

Loan Approval from the SBA

Of the total $796,000 loan amount, the SBA guaranteed $597,000.

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 21 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 19 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.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Wachovia Sba Lending, Inc. so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Advice on Getting a Small Business Loan

Small Bank Loans in Roseville, California

Getting an SBA Loan in California