Birmingham, Alabama Bank Gives SBA Loan to General Automotive Repair Company

Want to talk with a Birmingham, Alabama bank about a small business loan? Here's one Tennessee business loan, issued by a Birmingham bank, that was approved by the SBA.

Applying for an SBA loan with Wachovia Bank worked out well for our friends at one local firm in Nashville, Tennessee. They got an SBA loan for $79,200. Great job!

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
NASHVILLE, TN 37203

SBA Loan Lender

WACHOVIA BANK
420 N 20TH ST
BIRMINGHAM, AL 35203

The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

811111 - General Automotive Repair

Loan Approval Date

8/5/2003

Loan Approval Gross Amount

$79,200

Loan Approval from the SBA

Of the total $79,200 loan amount, the SBA guaranteed $39,600.

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 2 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wachovia Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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