Loan to Buy Liberty Tax Service Franchise Issued By Bank Of America

Need a loan to buy a Liberty Tax Service franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Liberty Tax Service franchise? If so, here's a 2004 SBA franchise loan that you should know about. Bank Of America was the lender and the entrepreneur was based in Palmyra, Virginia.

SBA Loan Borrower

ALLBAUGH, CPA,PC, CHARLES W DB
PALMYRA, VA 22963

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

541211 - Certified Public Accountants

Loan Approval Date

9/9/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Liberty Tax Service franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Palmyra VA, you ought to talk with a local Palmyra SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Palmyra businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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