 |
 |
November 15, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Temporary Help Services Loan | ||||
 |
||||
Hobbs SBA Loan from Bank Of America
|
||||
 |
SBA Loan from Bank Of America Helps Temporary Help Services CompanyBank Of America is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Mexico entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hobbs, New Mexico was able to borrow $36,200 from Bank Of America. The SBA made the loan possible by guaranteeing $18,100 of this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: TEMPORARY HELP SERVICES SBA Loan Lender BANK OF AMERICA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 561320 - Temporary Help Services Loan Approval Date 6/22/2001 Loan Approval Gross Amount $36,200 Loan Approval from the SBA Of the total $36,200 loan amount, the SBA guaranteed $18,100. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 1 existing job. Start the Process for Getting an SBA Loan Today! If you need money to start business in Hobbs NM, you ought to talk with a local Hobbs SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hobbs businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Borrowing Money from Friends and Family Best Charlotte, North Carolina Banks for Small Business
|
|
||
|
||||
|
|
||||