Wachovia Bank Gives Bank Loan to Industrial Machinery And Equipment Wholesalers Company

Would a Virginia bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this North Carolina bank, which offers SBA loans to Virginia entrepreneurs.

Getting a small business loan in Wake, Virginia was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Wachovia Bank. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT WHOLESALERS
WAKE, VA 23226

SBA Loan Lender

WACHOVIA BANK
100 N MAIN ST
WINSTON SALEM, NC 27101

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

421830 - Industrial Machinery and Equipment Wholesalers

Loan Approval Date

6/29/2001

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $35,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Wachovia Bank and they will explain how you can get an SBA loan for your company.

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:

Business Credit Evaluation

SBA Participating Banks in Winston Salem, North Carolina

Getting an SBA Loan in North Carolina