Financing for Financial Transactions Processing, Reserve, and Clearinghouse Activities

With these commercial loans for financial transactions processing, reserve, and clearinghouse activities, the SBA guarantees the lender that the loan will be repaid. This financial transactions processing, reserve, and clearinghouse activities loan for $1,305,000 was given to a California entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Riverside, California was able to borrow $1,305,000 from Wachovia Sba Lending, Inc.. The SBA made the loan possible by guaranteeing $978,750 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: FINANCIAL TRANSACTIONS PROCESSING, RESERVE, AND CLEARINGHOUSE ACTIVITIES
RIVERSIDE, CA 92508

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

522320 - Financial Transactions Processing, Reserve, and Clearinghouse Activities

Loan Approval Date

9/28/2004

Loan Approval Gross Amount

$1,305,000

Loan Approval from the SBA

Of the total $1,305,000 loan amount, the SBA guaranteed $978,750.

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 7 employees. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 7 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 Sba Lending, Inc. 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.

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