Bank Of America SBA Loan to Wood Office Furniture Company

Bank Of America has a track record as a leading provider of SBA loans. Find out how this North Carolina entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $775,700 to help grow their High Point, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: WOOD OFFICE FURNITURE
HIGH POINT, NC 27260

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2521 - Wood Office Furniture

NAICS Code

337211 - Wood Office Furniture Manufacturing

Loan Approval Date

5/24/2000

Loan Approval Gross Amount

$775,700

Loan Approval from the SBA

Of the total $775,700 loan amount, the SBA guaranteed $581,775.

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 10 employees. The loan application indicated that the loan would help generate 40 new jobs and retain 30 existing jobs.

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

If you are working on finding money to start a business in High Point NC, you ought to talk with a local High Point SBA lender or talk with an out-of-area SBA lender that has previously loaned money to High Point businesses.

We can help you find the best banks for small businesses in High Point or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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