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November 24, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Apparel Accessories And Other Apparel Manufacturing Loan | ||||
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Bank Of America
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Bank Of America SBA Loan to Apparel Accessories And Other Apparel Manufacturing 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 Lynchburg, Virginia business owner got a $15,000 loan. This business knew how to go about getting a business bank loan. Based in Lynchburg, Virginia, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Bank Of America, based in Charlotte, North Carolina. SBA Loan Borrower COMPANY TYPE: APPAREL ACCESSORIES AND OTHER APPAREL MANUFACTURING SBA Loan Lender BANK OF AMERICA This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 315999 - Apparel Accessories and Other Apparel Manufacturing Loan Approval Date 8/16/2005 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. 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 application for the borrower indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Small Business Banks in Charlotte, North Carolina
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