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November 21, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Exterminating And Pest Control Services Loan | ||||
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Altoona, Iowa Bank Loan
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Exterminating and Pest Control Services Commercial LoansWith these commercial loans for exterminating and pest control services, the SBA guarantees the lender that the loan will be repaid. This exterminating and pest control services loan for $6,000 was given to an Iowa entrepreneur in 2004. This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $6,000 to help grow their Altoona, Iowa business. SBA Loan Borrower COMPANY TYPE: EXTERMINATING AND PEST CONTROL SERVICES SBA Loan Lender BANK OF AMERICA This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 561710 - Exterminating and Pest Control Services Loan Approval Date 8/11/2004 Loan Approval Gross Amount $6,000 Loan Approval from the SBA Of the total $6,000 loan amount, the SBA guaranteed $3,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 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 - Getting Venture Capital Best Banks for Small Business in Charlotte, North Carolina SBA Participating Banks in North Carolina
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