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| Entrepreneur Resources | Bank Of America Charlotte Business Loans | ||||
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I Need an SBA 7A Loan in Austin, Texas
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Automotive Parts and Accessories Stores LoansWith these loans for automotive parts and accessories stores, the SBA guarantees the lender that the loan will be repaid. This automotive parts and accessories stores loan for $150,000 was given to a Texas entrepreneur in 2002.
Getting a small business loan in Austin, Texas was important for Competition Parts back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America, operating out of Charlotte, North Carolina. Here are the details on this Texas small business loan. SBA Loan Borrower COMPETITION PARTS SBA Loan Lender BANK OF AMERICA The lender provided this 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 441310 - Automotive Parts and Accessories Stores Loan Approval Date 9/30/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower, Competition Parts, 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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs. This loan was paid in full, and was closed out on 12/27/2004. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 SBA loan database. Related Links: Best Charlotte, North Carolina Banks for Small Business SBA Participating Banks in North Carolina If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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