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May 2, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Great Harvest Bread Company Loan | ||||
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Small Business Banks for Tucson, Arizona Businesses
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Tucson, AZ Entrepreneur Gets SBA Loan to Buy Great Harvest Bread Co. FranchiseNeed money to purchase a Great Harvest Bread Co. franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Great Harvest Bread Co. franchise is doable. In 2003, Bank Of America issued an SBA franchise loan to an entrepreneur in Tucson, Arizona. Because Great Harvest Bread Co. was registered with the SBA's registry of franchises, this Arizona small business loan was issued on an expedited basis. SBA Loan Borrower GREAT HARVEST BREAD COMPANY SBA Loan Lender BANK OF AMERICA The lender provided this SBA business 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 311812 - Commercial Bakeries Loan Approval Date 6/11/2003 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Great Harvest Bread Co. franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help retain 8 existing jobs. Getting an SBA Loan For Your 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Participating Banks in Charlotte, North Carolina
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