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May 17, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Stationery And Office Supplies Merchant Wholesalers Loan | ||||
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Austin, Texas Bank for SBA Loans
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Texas Business Loan Issued to Stationery And Office Supplies Merchant Wholesalers CompanyBank loans in Texas are are few and far betweeen these days. We take a look at one Texas bank loan, provided by a North Carolina bank, that was approved by the SBA. Getting a small business loan in Austin, Texas was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: STATIONERY AND OFFICE SUPPLIES MERCHANT WHOLESALERS 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 424120 - Stationery and Office Supplies Merchant Wholesalers Loan Approval Date 7/13/2004 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Determining Proper Capital Structure for a Business SBA Approved Banks in Charlotte, North Carolina Getting a Business Loan in North Carolina
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