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| Entrepreneur Resources | Bank Of America Charlotte Business Loans | ||||
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I Need a Loan in Miami, Florida
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Getting an SBA Loan for Electronic Parts and Equipment Merchant WholesalersLooking for commercial loans for electronic parts and equipment merchant wholesalers? An SBA loan may be just what you've been looking for. This $10,000 electronic parts and equipment merchant wholesalers loan was issued by a North Carolina bank.
A And A Electronic Distributor knew how to go about getting a business bank loan. Based in Miami, Florida, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Bank Of America, based in Charlotte, North Carolina. SBA Loan Borrower A AND A ELECTRONIC DISTRIBUTOR SBA Loan Lender BANK OF AMERICA This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 423690 - Other Electronic Parts and Equipment Merchant Wholesalers Loan Approval Date 2/21/2003 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, A And A Electronic Distributor, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. This loan was paid in full, and was closed out on 4/22/2004. 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as A And A Electronic Distributor walked into Bank Of America and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: The Friends and Family Network SBA Banks in Charlotte, 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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