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November 15, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Atlanta, Business Loans > Omni National Bank Atlanta Business Loans > Boogie Down Electronics Inc Loan | ||||
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Omni National Bank Franchise Loans
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Omni National Bank Provides SBA Loan to Buy Radio Shack FranchiseNeed a loan to buy a Radio Shack franchise? Omni National Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Radio Shack franchise? If so, here's a 2006 SBA franchise loan that you should know about. Omni National Bank was the lender and the entrepreneur was based in Black Mountain, North Carolina. SBA Loan Borrower BOOGIE DOWN ELECTRONICS INC SBA Loan Lender OMNI NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 443112 - Radio, Television, and Electronics Stores Loan Approval Date 6/21/2006 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Radio Shack 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 generate 1 new job and retain 3 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 Omni National Bank 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: How Much Venture Capital Is There? Good Banks for Small Business in Atlanta, Georgia
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