How to Get a Loan for Air-Conditioning and Warm Air Heating Equipment

With these business loans for air-conditioning and warm air heating equipment, the SBA guarantees the lender that the loan will be repaid. This air-conditioning and warm air heating equipment loan for $150,000 was given to a Virginia entrepreneur in 2000.

Getting a small business loan in Front Royal, Virginia was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Wachovia Bank, operating out of Winston Salem, North Carolina. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: AIR-CONDITIONING, REFRIGERATION AND HEATING
FRONT ROYAL, VA 22630

SBA Loan Lender

WACHOVIA BANK
100 N MAIN ST
WINSTON SALEM, NC 27101

The lender provided this 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

3585 - Air-Conditioning, Refrigeration and Heating

NAICS Code

333415 - Air-Conditioning and Warm Air Heating Equipment

Loan Approval Date

5/31/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. The loan application indicated that the loan would help generate 15 new jobs and retain 15 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wachovia Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

SBIR Funding

Small Business Banks in Winston Salem, North Carolina

Find an SBA Lender in North Carolina