Austin, Texas Business Gets SBA-Guaranteed Funding from Bank Of America
Bank Of America has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.
Discoteca 2000 received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $50,000 to help grow their Austin, Texas business.
SBA Loan Borrower
Discoteca 2000
6212 E RIVERSIDE DR
AUSTIN, TX 78741
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
448150 - Clothing Accessories Stores
Loan Approval Date
2/11/2006
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
More Information on This SBA Loan
The borrower, Discoteca 2000, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 17 employees. The SBA loan documents indicated that the loan would help retain 17 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.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like Discoteca 2000 did when it applied for and received this $50,000 loan. Remember, things become real when you believe you can achieve them!
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's SBA loan database.
Related Links:
Investor Turnoffs
SBA 7A Banks for Charlotte, North Carolina Loans
Where to Get an SBA Loan North Carolina
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