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May 17, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Insurance Agencies And Brokerages Loan | ||||
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Bank Of America
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Bank Of America SBA Loan to Insurance Agencies And Brokerages CompanyAn SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Westlake Village, California business owner got a $10,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Westlake Village, California was able to borrow $10,000 from Bank Of America. The SBA made the loan possible by guaranteeing $5,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES 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 524210 - Insurance Agencies and Brokerages Loan Approval Date 5/15/2006 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 15 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 15 existing jobs. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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: Where to Get an SBA Loan in Charlotte, North Carolina Find an SBA Lender in North Carolina
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