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November 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Roseville, Business Loans > Wachovia Sba Lending, Inc. Roseville Business Loans > Formal Wear And Costume Rental Loan | ||||
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Roseville Lenders
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Roseville, California Lender Lends Money to Formal Wear And Costume Rental CompanyThinking about meeting with a Roseville, California bank about a business loan? Here's one California business loan, issued by a Roseville bank, that was approved by the SBA. Applying for an SBA loan with Wachovia Sba Lending, Inc. worked out well for our friends at one local firm in San Diego, California. They received an SBA loan for $595,000. Sweet! SBA Loan Borrower COMPANY TYPE: FORMAL WEAR AND COSTUME RENTAL SBA Loan Lender WACHOVIA SBA LENDING, INC. Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 532220 - Formal Wear and Costume Rental Loan Approval Date 5/31/2002 Loan Approval Gross Amount $595,000 Loan Approval from the SBA Of the total $595,000 loan amount, the SBA guaranteed $446,250. 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 9 employees. The SBA loan application for the borrower indicated that the loan would help retain 9 existing jobs. Start the Process for Getting an SBA Loan Today! Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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. Related Links: SBA Approved Banks in Roseville, California SBA Participating Banks in California
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