SBA Loan from Wachovia Bank Helps Floor Covering Stores Company

Wachovia Bank has a track record as a leading provider of SBA loans. Find out how this North Carolina entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Wachovia Bank, out of Winston Salem, North Carolina. The loan was granted and they received $101,200 to help grow their Morganton, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
MORGANTON, NC 28655

SBA Loan Lender

WACHOVIA BANK
100 N MAIN ST
WINSTON SALEM, NC 27101

This lender processed this debt financing 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

442210 - Floor Covering Stores

Loan Approval Date

5/4/2001

Loan Approval Gross Amount

$101,200

Loan Approval from the SBA

Of the total $101,200 loan amount, the SBA guaranteed $50,600.

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 4 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Determining Proper Capital Structure for a Business

Small Bank Loans in Winston Salem, North Carolina

SBA North Carolina Lenders