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November 25, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Child And Youth Services Loan | ||||
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Advice for Business Owners On Getting a Loan
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Child and Youth Services Commercial LoansLooking for commercial loans for child and youth services? Try the SBA. This $218,000 child and youth services loan was issued by a North Carolina bank. This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $218,000 to help grow their Memphis, Tennessee business. SBA Loan Borrower COMPANY TYPE: CHILD AND YOUTH SERVICES SBA Loan Lender BANK OF AMERICA This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624110 - Child and Youth Services Loan Approval Date 2/28/2003 Loan Approval Gross Amount $218,000 Loan Approval from the SBA Of the total $218,000 loan amount, the SBA guaranteed $163,500. 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 application for the borrower indicated that the loan would help generate 17 new jobs and retain 18 existing jobs. Start the Process for Getting an SBA Loan Today! 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Microlending as a Small Business Funding Source SBA 7A Lenders in Charlotte, North Carolina
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