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May 17, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Children's And Infants' Clothing Stores Loan | ||||
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Where to Get Capital for Children's and Infants' Clothing StoresLooking for small business loans for children's and infants' clothing stores? Talk to a banker who works with the SBA. This $8,000 children's and infants' clothing stores loan was issued by a North Carolina bank. This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $8,000 to help grow their Los Angeles, California business. SBA Loan Borrower COMPANY TYPE: CHILDREN'S AND INFANTS' CLOTHING STORES 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 448130 - Children's and Infants' Clothing Stores Loan Approval Date 7/12/2004 Loan Approval Gross Amount $8,000 Loan Approval from the SBA Of the total $8,000 loan amount, the SBA guaranteed $4,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Small Bank Loans in Charlotte, North Carolina
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