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November 15, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > General Automotive Repair Loan | ||||
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What Does It Take to Get a Business Loan in Bridgeport, Connecticut?
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Raising Money for General Automotive RepairLooking for bank loans for general automotive repair? The SBA may be the answer. This $16,000 general automotive repair loan was issued by a North Carolina bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bridgeport, Connecticut was able to borrow $16,000 from Bank Of America. The SBA made the loan possible by guaranteeing $8,000 of this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR 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 811111 - General Automotive Repair Loan Approval Date 12/8/2005 Loan Approval Gross Amount $16,000 Loan Approval from the SBA Of the total $16,000 loan amount, the SBA guaranteed $8,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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? SBA 7A Banks for Charlotte, North Carolina Loans
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