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December 22, 2024 |
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| Home > Small Business Lenders by State > Delaware Business Loan Sources > Blue Bell, Business Loans > Bank Of America Blue Bell Business Loans > Eating Places Loan | ||||
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Pennsylvania Bank SBA Loans
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Bank Of America SBA Loan to Eating Places CompanyLooking to get a Delaware SBA loan? Here's one Delaware business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wilmington, Delaware was able to borrow $131,000 from Bank Of America. The SBA made the loan possible by guaranteeing $98,250 of this Delaware small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender BANK OF AMERICA This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 9/26/2000 Loan Approval Gross Amount $131,000 Loan Approval from the SBA Of the total $131,000 loan amount, the SBA guaranteed $98,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 - Getting Venture Capital Best Blue Bell, Pennsylvania Banks for Small Business
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