Bank Of America SBA Loan to Dance Studios, Schools, And Halls Company

Want a Florida SBA loan? Here's one Florida business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Seminole, Florida, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Bank Of America, based in Charlotte, North Carolina.

SBA Loan Borrower

COMPANY TYPE: DANCE STUDIOS, SCHOOLS, AND HALLS
SEMINOLE, FL 33710

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7911 - Dance Studios, Schools, and Halls

Loan Approval Date

7/11/2000

Loan Approval Gross Amount

$22,500

Loan Approval from the SBA

Of the total $22,500 loan amount, the SBA guaranteed $18,000.

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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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:

Business Incubators

Small Bank Loans in Charlotte, North Carolina

Find an SBA Lender in North Carolina