Wachovia Sba Lending, Inc. Provides SBA Loan to Buy Chesapeake Bagel Bakery Franchise

Borrowing money to buy a Chesapeake Bagel Bakery franchise? Wachovia Sba Lending, Inc. has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Chesapeake Bagel Bakery franchise requires some effort but others before you have been successful. In 2000, Wachovia Sba Lending, Inc. issued an SBA franchise loan to an entrepreneur in Severn, Maryland. Because Chesapeake Bagel Bakery was registered with the SBA's registry of franchises, this Maryland small business loan was issued on an expedited basis.

SBA Loan Borrower

CHESAPEAKE BAGEL BAKERY
SEVERN, MD 21146

SBA Loan Lender

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

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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/21/2000

Loan Approval Gross Amount

$631,000

Loan Approval from the SBA

Of the total $631,000 loan amount, the SBA guaranteed $473,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Chesapeake Bagel Bakery franchise. At the time of the loan, the company had 26 employees. The loan application indicated that the loan would help retain 26 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 Sba Lending, Inc. 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:

Bank Credit Lines

SBA Participating Banks in Roseville, California

SBA California Lenders