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November 23, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Personal Services Loan | ||||
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Bank Of America Business Loan Duncan, SC
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Business Loan from Bank Of America Given to Personal Services CompanyBank Of America has a track record as a leading provider of SBA loans. Find out how this South Carolina entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Duncan, South Carolina was able to borrow $73,200 from Bank Of America. The SBA made the loan possible by guaranteeing $36,600 of this South Carolina small business loan. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES 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. SIC Code 7299 - Personal Services Loan Approval Date 8/4/2000 Loan Approval Gross Amount $73,200 Loan Approval from the SBA Of the total $73,200 loan amount, the SBA guaranteed $36,600. 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 loan application indicated that the loan would help generate 10 new jobs and retain 10 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: Who Lends Money to Small Businesses in Charlotte, North Carolina
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