Business Loan from Wachovia Bank Given to Pleating, Decorative And Novelty Stitching Company

An SBA loan from Wachovia Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Houston, Texas business owner got a $90,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Houston, Texas was able to borrow $90,000 from Wachovia Bank. The SBA made the loan possible by guaranteeing $72,000 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: PLEATING, DECORATIVE AND NOVELTY STITCHING
HOUSTON, TX 77054

SBA Loan Lender

WACHOVIA BANK
1001 HWY 146 SOUTH
LA PORTE, TX 77571

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.

SIC Code

2395 - Pleating, Decorative and Novelty Stitching

NAICS Code

313311 - Broadwoven Fabric Finishing Mills

Loan Approval Date

9/15/2000

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $72,000.

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 21 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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