Orange Park, FL Entrepreneur Gets SBA Loan to Buy Physician's Weight Loss Center Franchise

Borrowing money to invest in a Physician's Weight Loss Center franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Orange Park, Florida needed money to invest in a Physician's Weight Loss Center franchise back in 2003. Wachovia Bank issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

PHYSICIAN'S WEIGHT LOSS CENTER
ORANGE PARK, FL 32073

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

812191 - Diet and Weight Reducing Centers

Loan Approval Date

2/5/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $30,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Physician's Weight Loss Center franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 7 existing jobs.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Physicians Weight Loss

Equity Financing

Best Winston Salem, North Carolina Banks for Small Business

North Carolina SBA Bank Lenders