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December 22, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Residential Remodelers Loan | ||||
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Bank Of America
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Business Loan from Bank Of America Given to Residential Remodelers CompanyBank Of America and the SBA work together to get business loans for growing small businesses. Here's an example of how a Massachusetts entrepreneur was able to get a loan to take a small business to the next level. This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $10,000 to help grow their Worcester, Massachusetts business. SBA Loan Borrower COMPANY TYPE: RESIDENTIAL REMODELERS 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 236118 - Residential Remodelers Loan Approval Date 4/25/2007 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 an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of America and they will explain how you can get an SBA loan for your company. 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 Charlotte, North Carolina Banks for Small Business Browse All Business Loan Sources for North Carolina
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