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December 22, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Used Merchandise Stores Loan | ||||
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FL Business Loan from Bank Of America
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Business Loan from Bank Of America Given to Used Merchandise Stores CompanyBank Of America and the SBA work together to get business loans for growing small businesses. Here's an example of how a Florida entrepreneur was able to get a loan to take a small business to the next level. This growing company knew how to go about getting a business bank loan. Based in Fort Lauderdale, Florida, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Bank Of America, based in Charlotte, North Carolina. SBA Loan Borrower COMPANY TYPE: USED MERCHANDISE STORES 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 453310 - Used Merchandise Stores Loan Approval Date 5/23/2006 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 application for the borrower indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Good Banks for Small Business in Charlotte, North Carolina Where to Get an SBA Loan North Carolina
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