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| Entrepreneur Resources | Bank Of America Charlotte Business Loans | ||||
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Bank Of America Business Loans
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Borrowing Money for Advertising AgenciesWith these loans for advertising agencies, the SBA guarantees the lender that the loan will be repaid. This advertising agencies loan for $10,000 was given to an Oklahoma entrepreneur in 2003.
Getting a small business loan in Tulsa, Oklahoma was important for Perry Creative Inc back in 2003 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 Oklahoma small business loan. SBA Loan Borrower PERRY CREATIVE INC 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 541810 - Advertising Agencies Loan Approval Date 8/19/2003 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, Perry Creative Inc, 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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. If a firm like Perry Creative Inc is able to get a $10,000 loan, why not give getting an SBA loan of your own a try? About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Determining Proper Capital Structure for a Business SBA Approved Banks in Charlotte, North Carolina 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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