Charlotte, North Carolina Lender Lends Money to Ready-Mix Concrete Manufacturing Company

Thinking about meeting with a Charlotte, North Carolina bank about an SBA loan? Here's one Tennessee business loan, issued by a Charlotte bank, that was approved by the SBA.

Applying for an SBA loan with Bank Of America worked out well for our friends at one local business in Hermitage, Tennessee. The business was able to get an SBA loan for $50,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: READY-MIX CONCRETE MANUFACTURING
HERMITAGE, TN 37076

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

The lender provided this SBA bank loan 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

327320 - Ready-Mix Concrete Manufacturing

Loan Approval Date

6/4/2004

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 12 employees. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to borrow money from friends and family, 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.

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