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November 14, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Columbia, Business Loans > Bank Of America Columbia Business Loans > Drug Stores And Proprietary Stores Loan | ||||
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North Carolina Small Business Loans from Bank Of America
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Business Loan from Bank Of America Given to Drug Stores And Proprietary Stores CompanyBank Of America 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 growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Of America, out of Columbia, South Carolina. The loan was granted and they received $138,600 to help grow their Charlotte, North Carolina business. SBA Loan Borrower COMPANY TYPE: DRUG STORES AND PROPRIETARY STORES SBA Loan Lender BANK OF AMERICA This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5912 - Drug Stores and Proprietary Stores NAICS Code 446110 - Pharmacies and Drug Stores Loan Approval Date 6/28/2000 Loan Approval Gross Amount $138,600 Loan Approval from the SBA Of the total $138,600 loan amount, the SBA guaranteed $103,950. 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 7 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Banking Deregulation's Effects on Entrepreneurship Small Bank Loans in Columbia, South Carolina Browse All Business Loan Sources for South Carolina
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