SBA Loans for New Multifamily Housing Construction

With these SBA loans for new multifamily housing construction, the SBA guarantees the lender that the loan will be repaid. This new multifamily housing construction loan for $46,000 was given to a North Carolina entrepreneur in 2007.

This business knew how to go about getting a business bank loan. Based in Jacksonville, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Bank Of America, based in Charlotte, North Carolina.

SBA Loan Borrower

COMPANY TYPE: NEW MULTIFAMILY HOUSING CONSTRUCTION
JACKSONVILLE, NC 28546

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

236116 - New Multifamily Housing Construction

Loan Approval Date

11/2/2007

Loan Approval Gross Amount

$46,000

Loan Approval from the SBA

Of the total $46,000 loan amount, the SBA guaranteed $39,100.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Find Start-Up Capital

Best Banks for Small Business in Charlotte, North Carolina

Getting an SBA Loan in North Carolina