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November 24, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Winston Salem, Business Loans > Wachovia Bank Winston Salem Business Loans > Air-Conditioning, Refrigeration And Heating Loan | ||||
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Who Lends Money to Front Royal Small Business Owners
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Wachovia Bank Gives Bank Loan to Air-Conditioning, Refrigeration And Heating CompanyWould a Virginia bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this North Carolina bank, which offers SBA loans to Virginia entrepreneurs. By giving the right information to Wachovia Bank, this Front Royal, Virginia business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: AIR-CONDITIONING, REFRIGERATION AND HEATING SBA Loan Lender WACHOVIA BANK 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. SIC Code 3585 - Air-Conditioning, Refrigeration and Heating NAICS Code 333415 - Air-Conditioning and Warm Air Heating Equipment Loan Approval Date 6/2/2000 Loan Approval Gross Amount $277,000 Loan Approval from the SBA Of the total $277,000 loan amount, the SBA guaranteed $207,750. 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 14 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $277,000 loan. Remember, feel the fear, and do it anyway. 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: SBA Participating Banks in Winston Salem, North Carolina
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