 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
|
|
|
||
| Entrepreneur Resources | Bank Of America Charlotte Business Loans | ||||
 |
||||
SBA Lender Virginia
|
||||
 |
Newport News, Virginia Business Gets SBA-Guaranteed Funding from Bank Of AmericaAn SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Newport News, Virginia business owner got a $10,000 loan.
Jimmy's Products knew how to go about getting a business bank loan. Based in Newport News, Virginia, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Bank Of America, based in Charlotte, North Carolina. SBA Loan Borrower JIMMY'S PRODUCTS SBA Loan Lender BANK OF AMERICA This SBA business loan 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 445230 - Fruit and Vegetable Markets Loan Approval Date 2/26/2003 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, Jimmy's Products, 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 5/17/2006. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Jimmy's Products needed a loan. Bank Of America probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of America made the loan. The end result was that Jimmy's Products was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Small Bank Loans 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.
|
|
||
|
||||
|
|
||||
