SBA Loan from Bank Of America Helps Wood Kitchen Cabinets Company

An SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Dawsonville, Georgia business owner got a $112,500 loan.

This business 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 $112,500 to help grow their Dawsonville, Georgia business.

SBA Loan Borrower

COMPANY TYPE: WOOD KITCHEN CABINETS
DAWSONVILLE, GA 30534

SBA Loan Lender

BANK OF AMERICA
121 MOORE-HOPKINS - SC3-250-0
COLUMBIA, SC 29210

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

2434 - Wood Kitchen Cabinets

NAICS Code

337110 - Wood Kitchen Cabinet and Countertop Manufacturing

Loan Approval Date

6/26/2000

Loan Approval Gross Amount

$112,500

Loan Approval from the SBA

Of the total $112,500 loan amount, the SBA guaranteed $84,375.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $112,500. How would you spend $112,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

How Equity Dilution Works

Small Business Banks in Columbia, South Carolina

SBA South Carolina Lenders