Bank Of America Provides SBA Loan to Buy Sylvan Learning Center Franchise
Need a loan to buy a Sylvan Learning Center franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.
If you live near San Jose, California and are interested in buying a Sylvan Learning Center franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Bank Of America. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.
SBA Loan Borrower
SYLVAN LEARNING CENTER
SAN JOSE, CA 95124
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
611691 - Exam Preparation and Tutoring
Loan Approval Date
8/28/2002
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Sylvan Learning Center franchise. At the time of the loan, the company
had 50 employees. The loan application indicated that the loan would help retain 50 existing jobs.
Next Steps for Getting an SBA Loan
Don't forget. To get an SBA loan, you must 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.
We can help you find the best banks for small businesses in San Jose or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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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