Business Loan from Bank Of America Given to Site Preparation Contractors Company
Bank Of America is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Maryland entrepreneur who tapped into the power of SBA loans.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Spencerville, Maryland was able to borrow $62,000 from Bank Of America. The SBA made the loan possible by guaranteeing $31,000 of this Maryland small business loan.
SBA Loan Borrower
COMPANY TYPE: SITE PREPARATION CONTRACTORS
SPENCERVILLE, MD 20868
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
This commercial 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
238910 - Site Preparation Contractors
Loan Approval Date
10/11/2005
Loan Approval Gross Amount
$62,000
Loan Approval from the SBA
Of the total $62,000 loan amount, the SBA guaranteed $31,000.
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 only one employee. The loan application indicated that the loan would help retain 1 existing job.
Getting an SBA Loan For Your Business
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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
Who Lends Money to Small Businesses in Charlotte, North Carolina
North Carolina SBA Bank Lenders