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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Professional And Management Development Training Loan | ||||
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SBA Loans from Bank Of America
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Alexandria, Virginia Business Gets SBA-Guaranteed Funding from Bank Of AmericaBank Of America and the SBA work together to get business loans for growing small businesses. Here's an example of how a Virginia entrepreneur was able to get a loan to take a small business to the next level. This small firm knew how to go about getting a business bank loan. Based in Alexandria, Virginia, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Bank Of America, based in Charlotte, North Carolina. SBA Loan Borrower COMPANY TYPE: PROFESSIONAL AND MANAGEMENT DEVELOPMENT TRAINING SBA Loan Lender BANK OF AMERICA The lender provided this 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. NAICS Code 611430 - Professional and Management Development Training Loan Approval Date 1/21/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business If you are wondering how to raise money for a company in Alexandria VA, you ought to talk with a local Alexandria SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Alexandria businesses. 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 Bank Of America 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. Related Links: Obtaining Funding - How to Decide How Much to Raise Best Banks for Small Business in Charlotte, North Carolina
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