Borrowing Money for Electronic Parts and Equipment Merchant Wholesalers

With these loans for electronic parts and equipment merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This electronic parts and equipment merchant wholesalers loan for $35,000 was given to a New York entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Brooklyn, New York was able to borrow $35,000 from Bank Of America. The SBA made the loan possible by guaranteeing $17,500 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT MERCHANT WHOLESALERS
BROOKLYN, NY 11235

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

423690 - Electronic Parts and Equipment Merchant Wholesalers

Loan Approval Date

5/25/2007

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

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 SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Small Business Credit Cards

Find an SBA Lender in Charlotte, North Carolina

Find an SBA Lender in North Carolina