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December 25, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Support Services Loan | ||||
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We Needed an SBA 7A Loan in North Beach, Maryland and We Got One!
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Raising Money for Support ServicesLooking for bank loans for support services? Try the SBA. This $10,000 support services loan was issued by a North Carolina bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Beach, Maryland was able to borrow $10,000 from Bank Of America. The SBA made the loan possible by guaranteeing $5,000 of this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: SUPPORT SERVICES 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 561990 - Support Services Loan Approval Date 5/1/2006 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Banking Deregulation's Effects on Entrepreneurship Banks in Charlotte, North Carolina Where to Get an SBA Loan North Carolina
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