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May 17, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Tax Preparation Services Loan | ||||
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MO Small Business Loans from Bank Of America
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SBA Loan from Bank Of America Helps Tax Preparation Services CompanyBank Of America and the SBA work together to get business loans for growing small businesses. Here's an example of how a Missouri entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Florissant, Missouri was able to borrow $12,500 from Bank Of America. The SBA made the loan possible by guaranteeing $6,250 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: TAX PREPARATION SERVICES 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 541213 - Tax Preparation Services Loan Approval Date 6/14/2007 Loan Approval Gross Amount $12,500 Loan Approval from the SBA Of the total $12,500 loan amount, the SBA guaranteed $6,250. 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 12 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs. Getting an SBA Loan For Your 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. 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 $12,500 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: Raising VC Money for Social Networking Companies SBA 7A Lenders in Charlotte, North Carolina
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