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May 7, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Child Day Care Services Loan | ||||
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Business Loan from Bank Of America
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Business Loan from Bank Of America Given to Child Day Care Services CompanyBank Of America has a track record as a leading provider of SBA loans. Find out how this Georgia entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $248,000 to help grow their Riverdale, Georgia business. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender BANK OF AMERICA Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8351 - Child Day Care Services NAICS Code 624410 - Child Day Care Services Loan Approval Date 8/29/2000 Loan Approval Gross Amount $248,000 Loan Approval from the SBA Of the total $248,000 loan amount, the SBA guaranteed $186,000. 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 only one employee. This SBA loan request indicated that the loan would help create 8 new 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $248,000 loan. Remember, anyone can do it... so why not you? 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: Good Banks for Small Business in Charlotte, North Carolina
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