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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Plastics Products Loan | ||||
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Bank Of America
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SBA Loan from Bank Of America Helps Plastics Products CompanyBank Of America has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Woodbridge, Virginia was able to borrow $150,000 from Bank Of America. The SBA made the loan possible by guaranteeing $75,000 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: PLASTICS PRODUCTS SBA Loan Lender BANK OF AMERICA This business 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. SIC Code 3089 - Plastics Products NAICS Code 326199 - Plastics Product Manufacturing Loan Approval Date 9/27/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 25 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 5 existing jobs. 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Accountant's Role in Securing Financing Best Banks for Small Business in Charlotte, North Carolina Getting an SBA Loan in North Carolina
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