Bank Of America SBA Loan to Limited-Service Restaurants Company
Bank Of America has a track record as a leading provider of SBA loans. Find out how this Nevada entrepreneur received an SBA loan from them.
This growing company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $60,000 to help grow their Las Vegas, Nevada business.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LAS VEGAS, NV 89128
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
4/18/2001
Loan Approval Gross Amount
$60,000
Loan Approval from the SBA
Of the total $60,000 loan amount, the SBA guaranteed $51,000.
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 only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.
Next Steps for Getting an SBA Loan
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
We can help you find the best banks for small businesses in Las Vegas 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.
Related Links:
Business Line of Credit
Small Business Banks in Charlotte, North Carolina
SBA North Carolina Banks