Winston Junction, North Carolina Business Gets SBA-Guaranteed Funding from Wachovia Bank

Wachovia Bank has a track record as a leading provider of SBA loans. Find out how this North Carolina entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Winston Junction, North Carolina, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Wachovia Bank, based in Winston Salem, North Carolina.

SBA Loan Borrower

COMPANY TYPE: BAKED GOODS STORES
WINSTON JUNCTION, NC 27103

SBA Loan Lender

WACHOVIA BANK
100 N MAIN ST
WINSTON SALEM, NC 27101

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

10/27/2000

Loan Approval Gross Amount

$150,300

Loan Approval from the SBA

Of the total $150,300 loan amount, the SBA guaranteed $112,725.

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 60 employees. The SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 21 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Bank 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.

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