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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Electrical Apparatus And Equipment, Wiring Supplies, And Related Equipment Loan | ||||
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Who Lends Money to Torrance Small Business Owners
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Bank Of America Gives Small Business Loan to Electrical Apparatus And Equipment, Wiring Supplies, And Related Equipment CompanySBA loans in California are are few and far betweeen these days. We take a look at one California SBA loan, provided by a North Carolina bank, that was approved by the SBA. This business, based in Torrance, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of America. We've got the inside scoop on this California small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRICAL APPARATUS AND EQUIPMENT, WIRING SUPPLIES, AND RELATED EQUIPMENT 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 423610 - Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Loan Approval Date 5/14/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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. 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? Every year, the SBA guarantees over $10 billion for loans just like this one. We can help you find the best banks for small businesses in Torrance or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 Best Banks for Small Business in Charlotte, North Carolina Find an SBA Lender in North Carolina
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