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May 3, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Beauty Salons Loan | ||||
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Banks Doing SBA Loans in Rhode Island
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Providence, Rhode Island Bank Gives SBA Loan to Beauty Salons CompanyGet to know Providence, Rhode Island banks that specialize in SBA loans and know how to work with entrepreneurs. Bank Of America is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Pittsburgh, Pennsylvania starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Bank Of America. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender BANK OF AMERICA The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 812112 - Beauty Salons Loan Approval Date 3/11/2003 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Who Lends Money to Small Businesses in Providence, Rhode Island
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