Virginia Entrepreneur Secures Financing to Buy Curves For Women Franchise

Borrowing money to purchase a Curves For Women franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA.

Curves For Women franchise loans are available to Newport News, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wachovia Bank, based in Winston Salem, North Carolina, issued an SBA franchise loan for a Curves For Women franchise in 2001. We've got all the details on this Virginia small business loan.

SBA Loan Borrower

HEALTHY CHOICES INC
622 WINDBROOK CIRCLE
NEWPORT NEWS, VA 23602

SBA Loan Lender

WACHOVIA BANK
100 N MAIN ST
WINSTON SALEM, NC 27101

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

8/9/2001

Loan Approval Gross Amount

$37,500

Loan Approval from the SBA

Of the total $37,500 loan amount, the SBA guaranteed $18,750.

More Information on This SBA Loan

The borrower, Healthy Choices Inc, borrowed this money for a new business. This loan was used to buy a Curves For Women franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 4 existing jobs. This loan was paid in full, and was closed out on 9/19/2005.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Curves

Financing Your Business

Small Bank Loans in Winston Salem, North Carolina

North Carolina SBA 7A Banks

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