 |
 |
December 20, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Florida Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Mortgage And Nonmortgage Loan Brokers Loan | ||||
 |
||||
SBA Lenders in Saint Augustine
|
||||
 |
Saint Augustine, Florida Business Gets SBA-Guaranteed Funding from Bank Of AmericaBank 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. This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $12,500 to help grow their Saint Augustine, Florida business. SBA Loan Borrower COMPANY TYPE: MORTGAGE AND NONMORTGAGE LOAN BROKERS 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. NAICS Code 522310 - Mortgage and Nonmortgage Loan Brokers Loan Approval Date 4/24/2007 Loan Approval Gross Amount $12,500 Loan Approval from the SBA Of the total $12,500 loan amount, the SBA guaranteed $6,250. 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 loan application indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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
|
|
||
|
||||
|
|
||||