SBA Loan from Wachovia Sba Lending, Inc. Helps Business Service Centers Company

Wachovia Sba Lending, Inc. has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Modesto, California was able to borrow $505,000 from Wachovia Sba Lending, Inc.. The SBA made the loan possible by guaranteeing $378,750 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICE CENTERS
MODESTO, CA 95354

SBA Loan Lender

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

At the time this loan was granted, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program is designed to give quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561439 - Business Service Centers

Loan Approval Date

2/5/2001

Loan Approval Gross Amount

$505,000

Loan Approval from the SBA

Of the total $505,000 loan amount, the SBA guaranteed $378,750.

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 11 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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.

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