Bank Of America Gives Business Loan to Tax Preparation Services Company
Bank loans in Florida are hard to find these days. We take a look at one Florida bank loan, provided by a North Carolina bank, that was approved by the SBA.
By giving the right information to Bank Of America, this Miramar, Florida business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: TAX PREPARATION SERVICES
MIRAMAR, FL 33023
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
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
541213 - Tax Preparation Services
Loan Approval Date
10/11/2007
Loan Approval Gross Amount
$23,000
Loan Approval from the SBA
Of the total $23,000 loan amount, the SBA guaranteed $11,500.
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 3 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 4 existing jobs.
Getting an SBA Loan For Your Business
SBA loans provide money to small business owners for working capital for other expenses.
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 $23,000 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:
Family and Friend Investors - Your First Financiers
SBA Banks in Charlotte, North Carolina
Getting a Business Loan in North Carolina