Wachovia Sba Lending, Inc. Provides SBA Loan to Buy Maaco Auto Painting Center Franchise

Need a loan to purchase a Maaco Auto Painting Center franchise? Wachovia Sba Lending, Inc. has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Maaco Auto Painting Center franchise? If so, here's a 2001 SBA franchise loan that you should know about. Wachovia Sba Lending, Inc. was the lender and the entrepreneur was based in Glen Burnie, Maryland.

SBA Loan Borrower

MAACO AUTO PAINTING & BODY WOR
GLEN BURNIE, MD 21061

SBA Loan Lender

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

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

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

12/28/2001

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Maaco Auto Painting Center franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the borrowed money would help create 9 new jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wachovia Sba Lending, Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wachovia Sba Lending, Inc. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

MAACO Enterprises, Inc.

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Small Business Banks in Roseville, California

Getting an SBA Loan in California