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April 23, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > C-J Natural Foods LLC Loan | ||||
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Business Loans for Humble Business Owners
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Borrow Money to Buy a Great Harvest Bread Co. FranchiseNeed money to purchase a Great Harvest Bread Co. franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Great Harvest Bread Co. franchise may simply require a phone call to a local SBA banker. In 2003, Bank Of America issued an SBA franchise loan to an entrepreneur in Humble, Texas. Because Great Harvest Bread Co. was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis. SBA Loan Borrower C-J NATURAL FOODS LLC 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 311811 - Retail Bakeries Loan Approval Date 6/19/2003 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 an existing business. This loan was used to buy a Great Harvest Bread Co. franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 9 existing jobs. Next Steps for Getting an SBA Loan If you need money to start business in Humble TX, you ought to talk with a local Humble SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Humble businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Accountant's Role in Securing Financing Best Banks for Small Business in Charlotte, North Carolina
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