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May 7, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Elementary And Secondary Schools Loan | ||||
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Bank Of America
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SBA Loan from Bank Of America Helps Elementary And Secondary Schools CompanyBank Of America has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $340,000 to help grow their Laguna Niguel, California business. SBA Loan Borrower COMPANY TYPE: ELEMENTARY AND SECONDARY SCHOOLS SBA Loan Lender BANK OF AMERICA Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 611110 - Elementary and Secondary Schools Loan Approval Date 1/18/2002 Loan Approval Gross Amount $340,000 Loan Approval from the SBA Of the total $340,000 loan amount, the SBA guaranteed $255,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 40 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 40 existing jobs. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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: SBA 7A Lenders in Charlotte, North Carolina
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