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December 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Hobby, Toy, And Game Stores Loan | ||||
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California Small Business Funding
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Hobby, Toy, and Game Stores Commercial LoansWith these commercial loans for hobby, toy, and game stores, the SBA guarantees the lender that the loan will be repaid. This hobby, toy, and game stores loan for $10,000 was given to a California entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sherman Oaks, California was able to borrow $10,000 from Bank Of America. The SBA made the loan possible by guaranteeing $5,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: HOBBY, TOY, AND GAME STORES 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 451120 - Hobby, Toy, and Game Stores Loan Approval Date 10/18/2004 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: The Friends and Family Network Small Bank Loans in Charlotte, North Carolina
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