How to Get a Loan for Lawyers

With these commercial loans for lawyers, the SBA guarantees the lender that the loan will be repaid. This lawyers loan for $50,000 was given to a Texas entrepreneur in 2003.

This small business knew how to go about getting a business bank loan. Based in Fort Worth, Texas, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Bank Of America, based in Charlotte, North Carolina.

SBA Loan Borrower

COMPANY TYPE: LAWYERS
FORT WORTH, TX 76179

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

541110 - Lawyers

Loan Approval Date

3/4/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 4 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 8 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are raising money in Fort Worth TX, you ought to talk with a local Fort Worth SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fort Worth businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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SBA Banks in Charlotte, North Carolina

SBA North Carolina Lenders