Wachovia Sba Lending, Inc. SBA Loan to Industrial Inorganic Chemicals, N.E.C Company

Searching for a California business loan? Here's one California business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Robbins, California was able to borrow $510,000 from Wachovia Sba Lending, Inc.. The SBA made the loan possible by guaranteeing $306,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL INORGANIC CHEMICALS, N.E.C
ROBBINS, CA 95676

SBA Loan Lender

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

This debt financing was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending track record and a thorough understanding of SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2819 - Industrial Inorganic Chemicals, N.E.C

Loan Approval Date

5/2/2000

Loan Approval Gross Amount

$510,000

Loan Approval from the SBA

Of the total $510,000 loan amount, the SBA guaranteed $306,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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