Business Loan from Bank Of America Given to Beauty Salons Company
Bank Of America and the SBA work together to get business loans for growing small businesses. Here's an example of how a Washington entrepreneur was able to get a loan to take a small business to the next level.
This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $150,000 to help grow their Seattle, Washington business.
SBA Loan Borrower
COMPANY TYPE: BEAUTY SALONS
SEATTLE, WA 98105
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
812112 - Beauty Salons
Loan Approval Date
6/23/2003
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $75,000.
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 14 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 14 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.
This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
Dealing With Venture Capitalists
SBA Participating Banks in Charlotte, North Carolina
North Carolina SBA 7A Lenders