Business Loan from Bank Of America Given to Child Day Care Services Company
An SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Norwalk, California business owner got a $40,500 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Norwalk, California was able to borrow $40,500 from Bank Of America. The SBA made the loan possible by guaranteeing $20,250 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: CHILD DAY CARE SERVICES
NORWALK, CA 90650
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
624410 - Child Day Care Services
Loan Approval Date
7/29/2003
Loan Approval Gross Amount
$40,500
Loan Approval from the SBA
Of the total $40,500 loan amount, the SBA guaranteed $20,250.
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 16 employees. The loan application indicated that the loan would help retain 16 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $40,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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.
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