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November 24, 2024 |
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| Home > Small Business Lenders by State > District of Columbia Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Administrative Management And General Management Consulting Services Loan | ||||
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Bank Of America SBA Loans
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Administrative Management and General Management Consulting Services Commercial LoansWith these commercial loans for administrative management and general management consulting services, the SBA guarantees the lender that the loan will be repaid. This administrative management and general management consulting services loan for $10,000 was given to a District of Columbia entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Washington, District of Columbia was able to borrow $10,000 from Bank Of America. The SBA made the loan possible by guaranteeing $5,000 of this District of Columbia small business loan. SBA Loan Borrower COMPANY TYPE: ADMINISTRATIVE MANAGEMENT AND GENERAL MANAGEMENT CONSULTING SERVICES SBA Loan Lender BANK OF AMERICA This lender processed this debt financing 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 541611 - Administrative Management and General Management Consulting Services Loan Approval Date 10/11/2005 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 no employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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
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