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November 21, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Pet And Pet Supplies Stores Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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Pet and Pet Supplies Stores Commercial LoansLooking for commercial loans for pet and pet supplies stores? An SBA loan may be just what you've been looking for. This $15,000 pet and pet supplies stores loan was issued by a North Carolina bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Watertown, Massachusetts was able to borrow $15,000 from Bank Of America. The SBA made the loan possible by guaranteeing $7,500 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: PET AND PET SUPPLIES STORES SBA Loan Lender BANK OF AMERICA This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 453910 - Pet and Pet Supplies Stores Loan Approval Date 6/28/2006 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. 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 6 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My 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. While you may be able to borrow money from friends and family, 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: Best Banks in Charlotte, North Carolina
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