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May 7, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Costume Jewelry And Novelty Manufacturing Loan | ||||
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I Need a Small Business Loan in Cranston, Rhode Island
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Get an SBA Loan for Costume Jewelry and Novelty ManufacturingLooking for loans for costume jewelry and novelty manufacturing? Try the SBA. This $12,500 costume jewelry and novelty manufacturing loan was issued by a Rhode Island bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cranston, Rhode Island was able to borrow $12,500 from Bank Of America. The SBA made the loan possible by guaranteeing $6,250 of this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: COSTUME JEWELRY AND NOVELTY MANUFACTURING SBA Loan Lender BANK OF AMERICA This SBA bank 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 339914 - Costume Jewelry and Novelty Manufacturing Loan Approval Date 7/11/2002 Loan Approval Gross Amount $12,500 Loan Approval from the SBA Of the total $12,500 loan amount, the SBA guaranteed $6,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help retain 10 existing jobs. Start the Process for Getting an SBA Loan Today! Remember, you 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Best Banks for Small Business in Providence, Rhode Island
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