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April 26, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Christian Brothers Automotive Loan | ||||
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Where to Get a Small Business Loan to Purchase a Franchise
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Georgia Entrepreneur Secures Financing to Buy Christian Brothers Automotive FranchiseBorrowing money to invest in a Christian Brothers Automotive franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Suwanee, Georgia needed money to invest in a Christian Brothers Automotive franchise back in 2002. Bank Of America issued an SBA franchise loan. Here are the details on this Georgia small business loan. SBA Loan Borrower CHRISTIAN BROTHERS AUTOMOTIVE 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 811111 - General Automotive Repair Loan Approval Date 4/25/2002 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Christian Brothers Automotive franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan 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: Borrowing Money from Friends and Family SBA Banks in Charlotte, North Carolina Where to Get an SBA Loan North Carolina
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