Charlotte, North Carolina Bank Lends Money to Building Equipment Contractors Company in Redmond, Washington

A Charlotte, North Carolina SBA loan can be yours. Learn how a company got a $54,000 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 Washington 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: BUILDING EQUIPMENT CONTRACTORS
REDMOND, WA 98053

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

238290 - Building Equipment Contractors

Loan Approval Date

8/23/2004

Loan Approval Gross Amount

$54,000

Loan Approval from the SBA

Of the total $54,000 loan amount, the SBA guaranteed $27,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great funding source

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:

SBIR Funding

Small Business Banks in Charlotte, North Carolina

North Carolina SBA 7A Banks