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December 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Gift, Novelty, And Souvenir Stores Loan | ||||
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Advice for Businesses On Getting a Loan
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Gift, Novelty, and Souvenir Stores Small Business LoansWith these small business loans for gift, novelty, and souvenir stores, the SBA guarantees the lender that the loan will be repaid. This gift, novelty, and souvenir stores loan for $10,000 was given to a California entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cerritos (dairy Valley), California was able to borrow $10,000 from Bank Of America. The SBA made the loan possible by guaranteeing $5,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES SBA Loan Lender BANK OF AMERICA 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 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 2/17/2004 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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. This SBA loan request indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Role of Business Plan When Raising Money Who Lends Money to Small Businesses in Charlotte, North Carolina Getting an SBA Loan in North Carolina
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