Wachovia Sba Lending, Inc. Provides SBA Loan to Buy Maaco Auto Painting Center Franchise

Borrowing money to buy a Maaco Auto Painting Center franchise? Wachovia Sba Lending, Inc. has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Little Canada, Minnesota needed money to invest in a Maaco Auto Painting Center franchise back in 2001. Wachovia Sba Lending, Inc. issued an SBA franchise loan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

MAACO AUTO PAINTING & BODYWORK
LITTLE CANADA, MN 55117

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

8/2/2001

Loan Approval Gross Amount

$482,000

Loan Approval from the SBA

Of the total $482,000 loan amount, the SBA guaranteed $361,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Maaco Auto Painting Center franchise. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the loan would help retain 12 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

While you may be able to find other ways to get money to start a business, 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.

Related Links:

MAACO Enterprises, Inc.

Equity Financing

SBA Participating Banks in Roseville, California

SBA Participating Banks in California