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November 15, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Lighting Equipment Manufacturing Loan | ||||
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Bank Of America
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SBA Loan from Bank Of America Helps Lighting Equipment Manufacturing CompanyBank Of America has a track record as a leading provider of SBA loans. Find out how this Washington entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Longview, Washington was able to borrow $150,000 from Bank Of America. The SBA made the loan possible by guaranteeing $75,000 of this Washington small business loan. SBA Loan Borrower COMPANY TYPE: LIGHTING EQUIPMENT MANUFACTURING 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 335129 - Lighting Equipment Manufacturing Loan Approval Date 1/16/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 generate 3 new jobs and retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Obtaining Funding - How to Borrow Money SBA Banks in Charlotte, North Carolina
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