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April 28, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Charlotte, Business Loans > American Community Bank Charlotte Business Loans > Waste Management Services Loan | ||||
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What Does It Take to Get a Business Loan in Charlotte, North Carolina?
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Borrowing Money for Waste Management ServicesLooking for small business loans for waste management services? Talk to a banker who works with the SBA. This $500,000 waste management services loan was issued by a North Carolina bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Charlotte, North Carolina was able to borrow $500,000 from American Community Bank. The SBA made the loan possible by guaranteeing $375,000 of this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: WASTE MANAGEMENT SERVICES SBA Loan Lender AMERICAN COMMUNITY BANK This lender issued this small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began 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. NAICS Code 562998 - Waste Management Services Loan Approval Date 8/29/2003 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. 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 20 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. American Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, American Community Bank 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: Best Charlotte, North Carolina Banks for Small Business Browse All Business Loan Sources for North Carolina
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