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November 15, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Satellite Telecommunications Loan | ||||
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Getting SBA Loans from Bank Of America
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SBA Loan from Bank Of America Helps Satellite Telecommunications CompanyBank Of America and the SBA work together to get business loans for growing small businesses. Here's an example of how an Oregon entrepreneur was able to get a loan to take a small business to the next level. This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $7,500 to help grow their La Grande, Oregon business. SBA Loan Borrower COMPANY TYPE: SATELLITE TELECOMMUNICATIONS 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 517410 - Satellite Telecommunications Loan Approval Date 11/9/2005 Loan Approval Gross Amount $7,500 Loan Approval from the SBA Of the total $7,500 loan amount, the SBA guaranteed $3,750. 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 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs. Getting an SBA Loan For Your Business If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. If you need emergency money for small 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: Best Banks in Charlotte, North Carolina
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