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November 15, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Support Activities For Water Transportation Loan | ||||
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Bank Of America Small Business Loans
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Bank Of America SBA Loan to Support Activities For Water Transportation CompanyBank Of America is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Florida entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Riverview, Florida was able to borrow $14,000 from Bank Of America. The SBA made the loan possible by guaranteeing $7,000 of this Florida small business loan. SBA Loan Borrower COMPANY TYPE: SUPPORT ACTIVITIES FOR WATER TRANSPORTATION SBA Loan Lender BANK OF AMERICA This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 488390 - Support Activities for Water Transportation Loan Approval Date 7/8/2005 Loan Approval Gross Amount $14,000 Loan Approval from the SBA Of the total $14,000 loan amount, the SBA guaranteed $7,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Good Banks for Small Business in Charlotte, North Carolina
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