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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 > Mortgage And Nonmortgage Loan Brokers Loan | ||||
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Bank Of America Small Business
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Memphis, Tennessee Business Gets SBA-Guaranteed Funding from Bank Of AmericaAn SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Memphis, Tennessee business owner got a $35,000 loan. This small firm knew how to go about getting a business bank loan. Based in Memphis, Tennessee, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Bank Of America, based in Charlotte, North Carolina. SBA Loan Borrower COMPANY TYPE: MORTGAGE AND NONMORTGAGE LOAN BROKERS SBA Loan Lender BANK OF AMERICA The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 522310 - Mortgage and Nonmortgage Loan Brokers Loan Approval Date 4/23/2007 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. 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 4 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. We can help you find the best banks for small businesses in Memphis or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: How Much Venture Capital Is There? SBA 7A Banks in Charlotte, North Carolina
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