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November 15, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Motor Vehicle Supplies And New Parts Wholesalers Loan | ||||
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Raising Money in Lebanon, Tennessee With SBA Loans
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Motor Vehicle Supplies and New Parts Wholesalers SBA LoansLooking for SBA loans for motor vehicle supplies and new parts wholesalers? An SBA loan may be just what you've been looking for. This $50,000 motor vehicle supplies and new parts wholesalers loan was issued by a North Carolina bank. Getting a small business loan in Lebanon, Tennessee was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America, operating out of Charlotte, North Carolina. Here are the details on this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS WHOLESALERS SBA Loan Lender BANK OF AMERICA 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 421120 - Motor Vehicle Supplies and New Parts Wholesalers Loan Approval Date 7/25/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 4 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Banking Deregulation's Effects on Entrepreneurship Where to Get an SBA Loan in Charlotte, North Carolina Browse All Business Loan Sources for North Carolina
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