O'Fallon, Missouri Business Gets SBA-Guaranteed Funding from Bank Of America
Bank Of America has a track record as a leading provider of SBA loans. Find out how this Missouri entrepreneur received an SBA loan from them.
This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $31,300 to help grow their O'Fallon, Missouri business.
SBA Loan Borrower
COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
O'FALLON, MO 63366
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
454390 - Direct Selling Establishments
Loan Approval Date
5/11/2001
Loan Approval Gross Amount
$31,300
Loan Approval from the SBA
Of the total $31,300 loan amount, the SBA guaranteed $15,650.
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 1 new job and retain 1 existing job.
Start the Process for Getting an SBA Loan Today!
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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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