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December 25, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Fitness And Recreational Sports Centers Loan | ||||
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Raising Money in Conway, Arkansas With SBA Loans
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Fitness and Recreational Sports Centers LoansLooking for loans for fitness and recreational sports centers? An SBA loan may be just what you've been looking for. This $150,000 fitness and recreational sports centers loan was issued by a North Carolina bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Conway, Arkansas was able to borrow $150,000 from Bank Of America. The SBA made the loan possible by guaranteeing $75,000 of this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS 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 713940 - Fitness and Recreational Sports Centers Loan Approval Date 8/23/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Advice on Getting a Small Business Loan SBA 7A Lenders in Charlotte, North Carolina
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