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May 4, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Manufacturing Loan | ||||
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Bank Of America Business Loans
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Business Loans for ManufacturingWith these business loans for manufacturing, the SBA guarantees the lender that the loan will be repaid. This manufacturing loan for $100,000 was given to an Arkansas entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rogers, Arkansas was able to borrow $100,000 from Bank Of America. The SBA made the loan possible by guaranteeing $85,000 of this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: MANUFACTURING SBA Loan Lender BANK OF AMERICA The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide debt financing 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. NAICS Code 339999 - Manufacturing Loan Approval Date 8/2/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of America and they will explain how you can get an SBA loan for your company. 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: Microlending as a Small Business Funding Source Who Lends Money to Small Businesses in Charlotte, North Carolina
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