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April 20, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Site Preparation Contractors Loan | ||||
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Fitchburg SBA Loan from Bank Of America
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SBA Loan from Bank Of America Helps Site Preparation Contractors CompanyAn SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Fitchburg, Massachusetts business owner got a $64,500 loan. This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $64,500 to help grow their Fitchburg, Massachusetts business. SBA Loan Borrower COMPANY TYPE: SITE PREPARATION CONTRACTORS SBA Loan Lender BANK OF AMERICA The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 238910 - Site Preparation Contractors Loan Approval Date 3/6/2006 Loan Approval Gross Amount $64,500 Loan Approval from the SBA Of the total $64,500 loan amount, the SBA guaranteed $32,250. 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 13 employees. The SBA loan application for the borrower indicated that the loan would help retain 13 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for 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: Role of Business Plan When Raising Money SBA 7A Banks for Charlotte, North Carolina Loans
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