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November 15, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Schools And Instruction Loan | ||||
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Business Loans from Bank Of America
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Bank Of America SBA Loan to Schools And Instruction CompanyBank 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 Arkansas entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Springdale, Arkansas was able to borrow $72,000 from Bank Of America. The SBA made the loan possible by guaranteeing $36,000 of this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: SCHOOLS AND INSTRUCTION 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 611699 - Schools and Instruction Loan Approval Date 6/12/2001 Loan Approval Gross Amount $72,000 Loan Approval from the SBA Of the total $72,000 loan amount, the SBA guaranteed $36,000. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA 7A Banks for Charlotte, North Carolina Loans Getting a Business Loan in North Carolina
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