Newberry, Florida Business Gets SBA-Guaranteed Funding from Wachovia Bank

An SBA loan from Wachovia Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Newberry, Florida business owner got a $125,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Newberry, Florida, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Wachovia Bank, based in West Palm Beach, Florida.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
NEWBERRY, FL 32669

SBA Loan Lender

WACHOVIA BANK
450 AUSTRALIAN AVE
WEST PALM BEACH, FL 33401

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

8351 - Child Day Care Services

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

2/18/2000

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $93,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Wachovia Bank and they will explain how you can get an SBA loan for your company.

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:

Obtaining Funding - How to Decide How Much to Raise

SBA 7A Banks in West Palm Beach, Florida

Getting an SBA Loan in Florida