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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Home Furnishings Stores Loan | ||||
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Bank Of America
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Macomb, Illinois Business Gets SBA-Guaranteed Funding from Bank Of AmericaAn SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Macomb, Illinois business owner got a $100,000 loan. This business knew how to go about getting a business bank loan. Based in Macomb, Illinois, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Bank Of America, based in Charlotte, North Carolina. SBA Loan Borrower COMPANY TYPE: HOME FURNISHINGS STORES SBA Loan Lender BANK OF AMERICA The lender provided this SBA small business 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 442299 - Home Furnishings Stores Loan Approval Date 11/6/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 8 employees. The loan application indicated that the loan would help retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, you control your own destiny. 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 Bank Loans in Charlotte, North Carolina Browse All Business Loan Sources for North Carolina
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