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May 1, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > General Merchandise Stores Loan | ||||
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I Need a Loan in Memphis, Tennessee
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Financing for General Merchandise StoresLooking for loans for general merchandise stores? Talk to a banker who works with the SBA. This $47,000 general merchandise stores loan was issued by a North Carolina bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Memphis, Tennessee was able to borrow $47,000 from Bank Of America. The SBA made the loan possible by guaranteeing $39,950 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL MERCHANDISE STORES SBA Loan Lender BANK OF AMERICA The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5399 - General Merchandise Stores NAICS Code 452990 - General Merchandise Stores Loan Approval Date 2/8/2001 Loan Approval Gross Amount $47,000 Loan Approval from the SBA Of the total $47,000 loan amount, the SBA guaranteed $39,950. 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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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: Realistic Debt Financing Options Find an SBA Lender in Charlotte, North Carolina
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