Entrepreneur Works With Charlotte, North Carolina Bank to Get an SBA Loan
Thinking about meeting with a Charlotte, North Carolina bank about a business loan? Here's one California 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 business in San Diego, California. They received an SBA loan for $36,000. Way to go!
SBA Loan Borrower
COMPANY TYPE: BAKED GOODS STORES
SAN DIEGO, CA 92111
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
This SBA small 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
445291 - Baked Goods Stores
Loan Approval Date
5/29/2002
Loan Approval Gross Amount
$36,000
Loan Approval from the SBA
Of the total $36,000 loan amount, the SBA guaranteed $18,000.
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 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs.
Getting an SBA Loan For Your Business
Although it's called an SBA loan, you 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.
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.
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SBA 7A Banks in Charlotte, North Carolina
Where to Get an SBA Loan North Carolina