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May 17, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Vending Machine Operators Loan | ||||
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Texas Small Business SBA Loans
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Bank Of America Gives SBA Loan to Vending Machine Operators CompanyBusiness loans in Texas are are few and far betweeen these days. We take a look at one Texas business loan, provided by a North Carolina bank, that was approved by the SBA. This small business, based in Mc Kinney, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of America. We've got the inside scoop on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: VENDING MACHINE OPERATORS 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 454210 - Vending Machine Operators Loan Approval Date 3/31/2005 Loan Approval Gross Amount $23,500 Loan Approval from the SBA Of the total $23,500 loan amount, the SBA guaranteed $11,750. 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 3 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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 Banks in Charlotte, North Carolina
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