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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Norfolk, Business Loans > Wachovia Bank Norfolk Business Loans > Residential Care Loan | ||||
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Virginia Bank SBA Loans
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Wachovia Bank SBA Loan to Residential Care CompanyLooking to get a Virginia small business loan? Here's one Virginia business loan that was approved by the SBA. This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Wachovia Bank, out of Norfolk, Virginia. The loan was granted and they received $50,000 to help grow their Hampton, Virginia business. SBA Loan Borrower COMPANY TYPE: RESIDENTIAL CARE SBA Loan Lender WACHOVIA BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8361 - Residential Care Loan Approval Date 7/27/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the business planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Wachovia Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Obtaining Funding - Friends and Family SBA Banks in Norfolk, Virginia Getting a Business Loan in Virginia
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