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November 15, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Consumer Electronics Repair And Maintenance Loan | ||||
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Business Loans for Margate Businesses
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Consumer Electronics Repair and Maintenance Business LoansLooking for business loans for consumer electronics repair and maintenance? The SBA may be the answer. This $46,500 consumer electronics repair and maintenance loan was issued by a North Carolina bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Margate, Florida was able to borrow $46,500 from Bank Of America. The SBA made the loan possible by guaranteeing $23,250 of this Florida small business loan. SBA Loan Borrower COMPANY TYPE: CONSUMER ELECTRONICS REPAIR AND MAINTENANCE 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 811211 - Consumer Electronics Repair and Maintenance Loan Approval Date 4/8/2004 Loan Approval Gross Amount $46,500 Loan Approval from the SBA Of the total $46,500 loan amount, the SBA guaranteed $23,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Role of Business Plan When Raising Money Small Bank Loans in Charlotte, North Carolina
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