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May 2, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Stephen I Wong Corp Loan | ||||
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SBA 7A Banks in California
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California Entrepreneur Secures Financing to Buy Home Instead Senior Care FranchiseBorrowing money to purchase a Home Instead Senior Care franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. If you live near Pleasanton, California and are interested in buying a Home Instead Senior Care franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Bank Of America. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower STEPHEN I WONG CORP 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 623990 - Residential Care Facilities Loan Approval Date 12/3/2002 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Home Instead Senior Care franchise. At the time of the loan, the company had 100 employees. The SBA loan application for the borrower indicated that the loan would help retain 100 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you 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. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Business Banks in Charlotte, North Carolina
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