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May 8, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Temporary Help Services Loan | ||||
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Bank Of America
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SBA Loan from Bank Of America Helps Temporary Help Services CompanyBank Of America is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Newark, California, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Bank Of America, based in Charlotte, North Carolina. SBA Loan Borrower COMPANY TYPE: TEMPORARY HELP SERVICES SBA Loan Lender BANK OF AMERICA This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 561320 - Temporary Help Services Loan Approval Date 7/3/2003 Loan Approval Gross Amount $98,500 Loan Approval from the SBA Of the total $98,500 loan amount, the SBA guaranteed $49,250. 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 80 employees. The SBA loan documents indicated that the loan would help generate 50 new jobs and retain 80 existing jobs. Getting an SBA Loan For Your Business 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: Obtaining Funding - How to Borrow Money Banks in Charlotte, North Carolina
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