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November 21, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Health And Allied Services Loan | ||||
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Banks in Charlotte, North Carolina That Make SBA Loans
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Charlotte, North Carolina Lender Lends Money to Health And Allied Services CompanyWant to talk with a Charlotte, North Carolina bank about a business loan? Here's one Missouri business loan, issued by a Charlotte bank, that was approved by the SBA. Applying for an SBA loan with Bank Of America worked out well for our friends at one local business in Long Lane, Missouri. The business was able to get an SBA loan for $54,800. Nice! SBA Loan Borrower COMPANY TYPE: HEALTH AND ALLIED SERVICES SBA Loan Lender BANK OF AMERICA The lender provided this SBA loan 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. SIC Code 8099 - Health and Allied Services Loan Approval Date 2/10/2000 Loan Approval Gross Amount $54,800 Loan Approval from the SBA Of the total $54,800 loan amount, the SBA guaranteed $27,400. 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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Charlotte, North Carolina Banks for Small Business
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