Wachovia Bank Establishes Loan Program For Racers
By John Berti
In a joint statement Fast Motor Sports President, Bobby Diehl, and Wachovia Bank announced the establishment of a loan program which provides financial assistance to competitors. Diehl said, "Racers can use the proceeds from the loan for any of their race team needs up to a complete new race car if that's what they want."
Angela Clifton, Vice President of Wachovia Bank. explained that the loan will be a personal equity line of credit. The equity in the persons home will be the basis for determining the amount of the personal line of credit. "The higher the equity in the home the higher the line of credit could be. The minimum amount Wachovia Bank will grant to qualified individuals is $5,000", she said.
"Wachovia is interested in developing a relationship with race car owners and drivers, so much so that we will wave the customary closing costs and origination fees that are associated with this type of loan." added Clifton.
"It's important to know this loan program is not just for competitors in the Fastruck Pro Series, Fastruck Kids, or the Fast Late Models" said Diehl. This is open to any race competitor regardless of where or with whom they race.
If you would like to take part in this loan program or want more information you can call Angela Clifton at (352) 895-4162.
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