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November 14, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Drycleaning Plants Loan | ||||
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North Carolina SBA 7A Lenders
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Entrepreneur Works With Charlotte, North Carolina Bank to Get an SBA LoanFind Charlotte, North Carolina banks that specialize in business loans and know how to work with entrepreneurs. Bank Of America is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Greenville, South Carolina starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Bank Of America. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: DRYCLEANING PLANTS SBA Loan Lender BANK OF AMERICA At the time this loan was granted, the lender participated in the SBA's Certified Lenders Program (CLP). This program is designed to offer expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7216 - Drycleaning Plants NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 8/10/2000 Loan Approval Gross Amount $171,600 Loan Approval from the SBA Of the total $171,600 loan amount, the SBA guaranteed $128,700. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Small Business Banks in Charlotte, North Carolina
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