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December 23, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Roseville, Business Loans > Wachovia Sba Lending, Inc. Roseville Business Loans > Technical And Trade Schools Loan | ||||
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Memphis, Tennessee Bank for SBA Loans
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Getting an SBA Loan for Technical and Trade SchoolsWith these SBA loans for technical and trade schools, the SBA guarantees the lender that the loan will be repaid. This technical and trade schools loan for $1,370,000 was given to a Tennessee entrepreneur in 2008. This business knew how to go about getting a business bank loan. Based in Memphis, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Wachovia Sba Lending, Inc., based in Roseville, California. SBA Loan Borrower COMPANY TYPE: TECHNICAL AND TRADE SCHOOLS SBA Loan Lender WACHOVIA SBA LENDING, INC. 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 611519 - Technical and Trade Schools Loan Approval Date 2/15/2008 Loan Approval Gross Amount $1,370,000 Loan Approval from the SBA Of the total $1,370,000 loan amount, the SBA guaranteed $1,027,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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: Best Banks for Small Business in Roseville, California
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