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May 17, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Forest Nurseries And Gathering Of Forest Products Loan | ||||
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North Carolina Bank SBA Loans
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Bank Of America SBA Loan to Forest Nurseries And Gathering Of Forest Products CompanyLooking to get a Washington SBA loan? Here's one Washington business loan that was approved by the SBA. This small business needed an SBA business loan in Sedro Woolley, Washington back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Bank Of America, operating out of Charlotte, North Carolina. Here are the details on this Washington small business loan. SBA Loan Borrower COMPANY TYPE: FOREST NURSERIES AND GATHERING OF FOREST PRODUCTS SBA Loan Lender BANK OF AMERICA This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0831 - Forest Nurseries and Gathering of Forest Products Loan Approval Date 2/4/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. 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 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Obtaining Funding - Friends and Family Find an SBA Lender in Charlotte, North Carolina
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