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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Winston Salem, Business Loans > Wachovia Bank Winston Salem Business Loans > Cottman Transmission Systems Loan | ||||
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Advice for Borrowing Money to Buy a Franchise
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Wachovia Bank Provides SBA Loan to Buy Cottman Transmission FranchiseNeed a loan to purchase a Cottman Transmission franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA. Cottman Transmission franchise loans are available to Manassas, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wachovia Bank, based in Winston Salem, North Carolina, issued an SBA franchise loan for a Cottman Transmission franchise in 2001. We've got all the details on this Virginia small business loan. SBA Loan Borrower COTTMAN TRANSMISSION SYSTEMS SBA Loan Lender WACHOVIA BANK This lender processed this SBA bank 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. NAICS Code 811113 - Automotive Transmission Repair Loan Approval Date 6/8/2001 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Cottman Transmission franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Manassas or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Borrowing Money from Friends and Family Good Banks for Small Business in Winston Salem, North Carolina Where to Get an SBA Loan North Carolina
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