Bank Of America SBA Loan to Drywall And Insulation Contractors Company
Bank Of America has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them.
This small firm knew how to go about getting a business bank loan. Based in Gainesville, Virginia, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Bank Of America, based in Charlotte, North Carolina.
SBA Loan Borrower
COMPANY TYPE: DRYWALL AND INSULATION CONTRACTORS
GAINESVILLE, VA 20155
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
238310 - Drywall and Insulation Contractors
Loan Approval Date
12/11/2007
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
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 30 employees. The SBA loan application for the borrower indicated that the loan would help retain 30 existing jobs.
Next Steps for Getting an SBA Loan
If you are working on finding money to start a business in Gainesville VA, you ought to talk with a local Gainesville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Gainesville businesses.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Financing Your Business
Small Business Banks in Charlotte, North Carolina
Find an SBA Lender in North Carolina