SBA Loan from Bank Of America Helps Full-Service Restaurants 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 Flushing, New York business owner got a $30,000 loan.
This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $30,000 to help grow their Flushing, New York business.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
FLUSHING, NY 11358
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
722110 - Full-Service Restaurants
Loan Approval Date
4/10/2007
Loan Approval Gross Amount
$30,000
Loan Approval from the SBA
Of the total $30,000 loan amount, the SBA guaranteed $15,000.
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 5 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
If you have been wondering how do i get money to start a business in Flushing NY, you ought to talk with a local Flushing SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Flushing businesses.
This SBA loan was for $30,000. How would you spend $30,000 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.
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