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December 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Insurance Agencies And Brokerages Loan | ||||
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SBA Lender California
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Bank Of America SBA Loan to Insurance Agencies And Brokerages CompanyAn SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Los Angeles, California business owner got a $11,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Los Angeles, California was able to borrow $11,000 from Bank Of America. The SBA made the loan possible by guaranteeing $5,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES 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. NAICS Code 524210 - Insurance Agencies and Brokerages Loan Approval Date 4/25/2006 Loan Approval Gross Amount $11,000 Loan Approval from the SBA Of the total $11,000 loan amount, the SBA guaranteed $5,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA Banks in Charlotte, North Carolina
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