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December 20, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Charlotte, Business Loans > First Charter Bank Charlotte Business Loans > Computer Related Services Loan | ||||
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First Charter Bank SBA Loan
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First Charter Bank SBA Loan to Computer Related Services CompanyFirst Charter Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one North Carolina entrepreneur who tapped into the power of SBA loans. This small firm knew how to go about getting a business bank loan. Based in Charlotte, North Carolina, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was First Charter Bank, based in Charlotte, North Carolina. SBA Loan Borrower COMPANY TYPE: COMPUTER RELATED SERVICES SBA Loan Lender FIRST CHARTER BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7379 - Computer Related Services NAICS Code 541512 - Computer Systems Design Services Loan Approval Date 4/20/2001 Loan Approval Gross Amount $115,000 Loan Approval from the SBA Of the total $115,000 loan amount, the SBA guaranteed $97,750. 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 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Charter Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Charter Bank 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: SBA 7A Banks for Charlotte, North Carolina Loans Getting an SBA Loan in North Carolina
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