St. Charles, Missouri Business Gets SBA-Guaranteed Funding from Bank Of America
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 Missouri entrepreneur who tapped into the power of SBA loans.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St. Charles, Missouri was able to borrow $78,500 from Bank Of America. The SBA made the loan possible by guaranteeing $39,250 of this Missouri small business loan.
SBA Loan Borrower
COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
ST. CHARLES, MO 63389
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
454390 - Direct Selling Establishments
Loan Approval Date
4/13/2001
Loan Approval Gross Amount
$78,500
Loan Approval from the SBA
Of the total $78,500 loan amount, the SBA guaranteed $39,250.
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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $78,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Obtaining Funding From a Venture Capitalist
SBA Banks in Charlotte, North Carolina
SBA Lenders in North Carolina