Business Loan from Wachovia Sba Lending, Inc. Given to Specialty Trade Contractors Company

An SBA loan from Wachovia Sba Lending, Inc. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Waconia, Minnesota business owner got a $1,304,200 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Waconia, Minnesota was able to borrow $1,304,200 from Wachovia Sba Lending, Inc.. The SBA made the loan possible by guaranteeing $978,150 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
WACONIA, MN 55387

SBA Loan Lender

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

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

2/24/2005

Loan Approval Gross Amount

$1,304,200

Loan Approval from the SBA

Of the total $1,304,200 loan amount, the SBA guaranteed $978,150.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 18 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 18 existing jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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