Business Loan from Wachovia Bank Given to Direct Selling Establishments Company

Wachovia Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Wachovia Bank, out of Birmingham, Alabama. The loan was granted and they received $20,000 to help grow their San Antonio, Texas business.

SBA Loan Borrower

COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
SAN ANTONIO, TX 78218

SBA Loan Lender

WACHOVIA BANK
420 N 20TH ST
BIRMINGHAM, AL 35203

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

454390 - Direct Selling Establishments

Loan Approval Date

12/15/2004

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. This SBA loan request did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wachovia Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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Where to Get an SBA Loan in Birmingham, Alabama

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