Winston Salem, North Carolina Lender Lends Money to Laundry And Garment Services Company

Get small business loans from a Winston Salem, North Carolina bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Wachovia Bank is a Winston Salem, North Carolina small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a North Carolina company.

SBA Loan Borrower

COMPANY TYPE: LAUNDRY AND GARMENT SERVICES
GREENSBORO, NC 27405

SBA Loan Lender

WACHOVIA BANK
100 N MAIN ST
WINSTON SALEM, NC 27101

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

7219 - Laundry and Garment Services

Loan Approval Date

4/7/2000

Loan Approval Gross Amount

$84,000

Loan Approval from the SBA

Of the total $84,000 loan amount, the SBA guaranteed $42,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 7 existing jobs.

Next Steps for Getting an SBA Loan

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

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:

A Company That Helps Entrepreneurs

Small Bank Loans in Winston Salem, North Carolina

North Carolina SBA Banks