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November 21, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Business Services Loan | ||||
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Albuquerque Business Loans from Bank Of America
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SBA Loan from Bank Of America Helps Business Services CompanyBank Of America is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Mexico entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Albuquerque, New Mexico was able to borrow $104,000 from Bank Of America. The SBA made the loan possible by guaranteeing $52,000 of this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: BUSINESS SERVICES SBA Loan Lender BANK OF AMERICA The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 7389 - Business Services Loan Approval Date 5/3/2000 Loan Approval Gross Amount $104,000 Loan Approval from the SBA Of the total $104,000 loan amount, the SBA guaranteed $52,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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. Related Links: Best Banks for Small Business in Charlotte, North Carolina
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