SBA Loan from Bank Of America Helps Photography Studios, Portrait Company

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

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $150,000 to help grow their Hockley, Texas business.

SBA Loan Borrower

COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT
HOCKLEY, TX 77447

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

The lender provided this debt financing 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

541921 - Photography Studios, Portrait

Loan Approval Date

8/29/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.

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

If you are wondering how to raise money for a company in Hockley TX, you ought to talk with a local Hockley SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hockley businesses.

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.

Related Links:

The Friends and Family Network

SBA Approved Banks in Charlotte, North Carolina

Getting an SBA Loan in North Carolina