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May 9, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Electric Power Distribution Loan | ||||
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Florida Small Business Funding
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Getting an SBA Loan for Electric Power DistributionLooking for SBA loans for electric power distribution? The SBA may be the answer. This $10,000 electric power distribution loan was issued by a North Carolina bank. This business knew how to go about getting a business bank loan. Based in Riverview, Florida, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Bank Of America, based in Charlotte, North Carolina. SBA Loan Borrower COMPANY TYPE: ELECTRIC POWER DISTRIBUTION 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 221122 - Electric Power Distribution Loan Approval Date 8/10/2004 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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 18 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. This SBA loan was for $10,000. How would you spend $10,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Find an SBA Lender in Charlotte, North Carolina
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