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May 9, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Food Service Contractors Loan | ||||
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Banks in New York
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Food Service Contractors Small Business LoansWith these small business loans for food service contractors, the SBA guarantees the lender that the loan will be repaid. This food service contractors loan for $50,400 was given to a New York entrepreneur in 2002. This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $50,400 to help grow their Bronx (borough Of New York), New York business. SBA Loan Borrower COMPANY TYPE: FOOD SERVICE CONTRACTORS 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 722310 - Food Service Contractors Loan Approval Date 6/7/2002 Loan Approval Gross Amount $50,400 Loan Approval from the SBA Of the total $50,400 loan amount, the SBA guaranteed $25,200. 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 only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Banks in Providence, Rhode Island
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