Wachovia Bank, National Association
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Wachovia Bank, National Association · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811111 | General Automotive Repair | 12 | $2.8M | $237K | 4.8% |
| 621210 | Offices of Dentists | 9 | $1.6M | $182K | 3.6% |
| 624410 | Child Care Services | 5 | $729K | $146K | 2.0% |
| 337121 | Upholstered Household Furniture Manufacturing | 3 | $1.1M | $354K | 1.2% |
| 621310 | Offices of Chiropractors | 3 | $155K | $52K | 1.2% |
| 811192 | Car Washes | 3 | $450K | $150K | 1.2% |
| 541110 | Offices of Lawyers | 3 | $453K | $151K | 1.2% |
| 713940 | Fitness and Recreational Sports Centers | 3 | $1.0M | $337K | 1.2% |
| 551112 | Offices of Other Holding Companies | 2 | $495K | $248K | 0.8% |
| 812199 | Other Personal Care Services | 2 | $798K | $399K | 0.8% |
Geographic Distribution
SBA lending activity for Wachovia Bank, National Association by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Texas (TX) | 201 | $40.6M | 80.7% |
| Virginia (VA) | 24 | $3.2M | 9.6% |
| North Carolina (NC) | 6 | $2.6M | 2.4% |
| Florida (FL) | 11 | $1.6M | 4.4% |
| Pennsylvania (PA) | 6 | $1.4M | 2.4% |
| Connecticut (CT) | 1 | $315K | 0.4% |
Why Choose Wachovia Bank, National Association?
Based on SBA 7(a) lending track record from 1991-2004
- ✓Proven Track Record: 249 SBA loans approved, totaling $49.7M in financing
- ✓Industry Expertise: Specialized focus on General Automotive Repair, Offices of Dentists, Child Care Services
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 117 months
- ✓Loan Range: Loan sizes from $15K to $1.6M, with an average of $200K
- ✓Nationwide Reach: Active lending in 6 states, with strong presence in TX, VA, FL
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Wachovia Bank, National Association SBA lending
What types of businesses does Wachovia Bank, National Association typically finance?
Wachovia Bank, National Association specializes in SBA 7(a) lending to specific industries including general automotive repair, offices of dentists, child care services, upholstered household furniture manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Wachovia Bank, National Association's typical SBA loan terms?
Wachovia Bank, National Association's SBA 7(a) loans typically feature an average interest rate of — and average term length of 117 months (approximately 10 years). Loan sizes range from $15K to $1.6M, with an average loan size of $200K.
Do I need a business valuation for a Wachovia Bank, National Association SBA loan?
Yes, Wachovia Bank, National Association typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Wachovia Bank, National Association compare to other SBA lenders?
Wachovia Bank, National Association has originated 249 SBA loans totaling $49.7M since 1991. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Wachovia Bank, National Association lend in?
Wachovia Bank, National Association provides SBA 7(a) financing with particularly strong presence in TX, VA, FL, PA, NC. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
Certified valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.