Wachovia Bank SBA Loan to Gasoline Service Stations Company

Searching for a Tennessee business loan? Here's one Tennessee business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Waverly, Tennessee, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Wachovia Bank, based in Birmingham, Alabama.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
WAVERLY, TN 37185

SBA Loan Lender

WACHOVIA BANK
420 N 20TH ST
BIRMINGHAM, AL 35203

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

Loan Approval Date

7/18/2000

Loan Approval Gross Amount

$1,020,000

Loan Approval from the SBA

Of the total $1,020,000 loan amount, the SBA guaranteed $749,995.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 11 employees. The loan application indicated that the loan would help retain 11 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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