Get an SBA Loan for Frozen Cakes, Pies, and Pastries Manufacturing

Looking for bank loans for frozen cakes, pies, and pastries manufacturing? The SBA may be the answer. This $373,000 frozen cakes, pies, and pastries manufacturing loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in High Point, North Carolina was able to borrow $373,000 from Wachovia Sba Lending, Inc.. The SBA made the loan possible by guaranteeing $279,750 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: FROZEN CAKES, PIES, AND PASTRIES MANUFACTURING
HIGH POINT, NC 27263

SBA Loan Lender

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

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311813 - Frozen Cakes, Pies, and Pastries Manufacturing

Loan Approval Date

8/11/2004

Loan Approval Gross Amount

$373,000

Loan Approval from the SBA

Of the total $373,000 loan amount, the SBA guaranteed $279,750.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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 - How to Borrow Money

Small Business Banks in Roseville, California

Getting an SBA Loan in California