Growing Company Gets a California Bank Loan
CaliforniaBank loans are available to California firms through the SBA. In this case, a North Carolina bank provides the loan.
This business, based in Beverly Hills, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of America. We've got the inside scoop on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: PREPACKAGED SOFTWARE
BEVERLY HILLS, CA 90211
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7372 - Prepackaged Software
Loan Approval Date
7/17/2000
Loan Approval Gross Amount
$203,000
Loan Approval from the SBA
Of the total $203,000 loan amount, the SBA guaranteed $152,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 14 employees. The SBA loan documents indicated that the funding would help generate 17 new jobs.
Start the Process for Getting an SBA Loan Today!
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $203,000 loan. Remember, you control your own destiny.
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:
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Who Lends Money to Small Businesses in Charlotte, North Carolina
Getting an SBA Loan in North Carolina