Glendora, California Business Gets SBA-Guaranteed Funding from Wachovia Bank

An SBA loan from Wachovia Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Glendora, California business owner got a $101,300 loan.

This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Wachovia Bank, out of Charlotte, North Carolina. The loan was granted and they received $101,300 to help grow their Glendora, California business.

SBA Loan Borrower

COMPANY TYPE: ART DEALERS
GLENDORA, CA 91741

SBA Loan Lender

WACHOVIA BANK
301 S COLLEGE ST MAIN LOBBY
CHARLOTTE, NC 28202

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

453920 - Art Dealers

Loan Approval Date

4/28/2004

Loan Approval Gross Amount

$101,300

Loan Approval from the SBA

Of the total $101,300 loan amount, the SBA guaranteed $50,650.

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 3 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wachovia Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wachovia Bank 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:

Determining Proper Capital Structure for a Business

SBA Participating Banks in Charlotte, North Carolina

Getting an SBA Loan in North Carolina