Charlotte, North Carolina Bank Lends Money to General Automotive Repair Company in Powder Springs, Georgia

Want to talk with a Charlotte, North Carolina bank about an SBA loan? Here's one Georgia business loan, issued by a Charlotte bank, that was approved by the SBA.

Applying for an SBA loan with Bank Of America worked out well for our friends at one local firm in Powder Springs, Georgia. The business was able to get an SBA loan for $10,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
POWDER SPRINGS, GA 30127

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This lender processed this SBA small 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

811111 - General Automotive Repair

Loan Approval Date

10/29/2004

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 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start business in Powder Springs GA, you ought to talk with a local Powder Springs SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Powder Springs businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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