Wachovia Bank SBA Loan to Local Trucking With Storage Company

Searching for an Alabama SBA loan? Here's one Alabama business loan that was approved by the SBA.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Wachovia Bank, out of Wetumpka, Alabama. The loan was granted and they received $68,400 to help grow their Montgomery, Alabama business.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITH STORAGE
MONTGOMERY, AL 36117

SBA Loan Lender

WACHOVIA BANK
4950 US HWY 231
WETUMPKA, AL 36092

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4214 - Local Trucking With Storage

Loan Approval Date

4/13/2000

Loan Approval Gross Amount

$68,400

Loan Approval from the SBA

Of the total $68,400 loan amount, the SBA guaranteed $54,720.

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 10 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must 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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $68,400 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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