Business Loan from Bank Of America Given to New Single-Family Housing Construction Company
Bank Of America has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.
This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $35,000 to help grow their Encino, California business.
SBA Loan Borrower
COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION
ENCINO, CA 91316
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
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
236115 - New Single-Family Housing Construction
Loan Approval Date
6/3/2006
Loan Approval Gross Amount
$35,000
Loan Approval from the SBA
Of the total $35,000 loan amount, the SBA guaranteed $17,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. The loan application indicated that the loan would help generate 4 new jobs and retain 1 existing job.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
This SBA loan was for $35,000. How would you spend $35,000 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:
Business Incubators
SBA 7A Banks for Charlotte, North Carolina Loans
Find an SBA Lender in North Carolina