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November 15, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Repair Shops And Related Services Loan | ||||
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Getting a Small Business Loan from Bank Of America
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SBA Loan from Bank Of America Helps Repair Shops And Related Services CompanyBank Of America has a track record as a leading provider of SBA loans. Find out how this Georgia entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Thomasville, Georgia was able to borrow $76,000 from Bank Of America. The SBA made the loan possible by guaranteeing $38,000 of this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES SBA Loan Lender BANK OF AMERICA The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 7699 - Repair Shops and Related Services Loan Approval Date 6/15/2000 Loan Approval Gross Amount $76,000 Loan Approval from the SBA Of the total $76,000 loan amount, the SBA guaranteed $38,000. 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 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Who Lends Money to Small Businesses in Charlotte, North Carolina Where to Get an SBA Loan North Carolina
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