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November 21, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Eating Places Loan | ||||
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Charlotte, North Carolina SBA 7A Banks
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Charlotte, North Carolina Bank Gives SBA Loan to Eating Places CompanyA Charlotte, North Carolina small business loan can be yours. Learn how a company got a $103,000 business loan from this North Carolina bank. This loan to a local firm is a good example of an SBA loan. Bank Of America made the loan and the SBA guaranteed a portion of the loan. Many other Arizona entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: EATING PLACES 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. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 9/21/2000 Loan Approval Gross Amount $103,000 Loan Approval from the SBA Of the total $103,000 loan amount, the SBA guaranteed $51,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: SBA Participating Banks in Charlotte, North Carolina
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