Petersburg, VA Entrepreneur Gets SBA Loan to Buy Zero's Franchise

Borrowing money to buy a Zero's franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Zero's franchise is doable. In 2000, Wachovia Bank issued an SBA franchise loan to an entrepreneur in Petersburg, Virginia. Because Zero's was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis.

SBA Loan Borrower

ZERO'S SUBS
PETERSBURG, VA 23805

SBA Loan Lender

WACHOVIA BANK
100 N MAIN ST
WINSTON SALEM, NC 27101

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.

SIC Code

5812 - Eating Places

Loan Approval Date

8/25/2000

Loan Approval Gross Amount

$136,800

Loan Approval from the SBA

Of the total $136,800 loan amount, the SBA guaranteed $68,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Zero's franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 14 new jobs and retain 14 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

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.

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North Carolina SBA Bank Lenders