Providence, Rhode Island Bank Gives SBA Loan to Garment Pressing And Cleaners Agents For Laundries Company
Thinking about meeting with a Providence, Rhode Island bank about a business loan? Here's one New York business loan, issued by a Providence bank, that was approved by the SBA.
Applying for an SBA loan with Bank Of America worked out well for our friends at one local business in Brooklyn (borough Of New York), New York. They got an SBA loan for $50,000. Awesome!
SBA Loan Borrower
COMPANY TYPE: GARMENT PRESSING AND CLEANERS AGENTS FOR LAUNDRIES
BROOKLYN (BOROUGH OF NEW YORK), NY 11220
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
SIC Code
7212 - Garment Pressing and Cleaners Agents for Laundries
NAICS Code
812320 - Drycleaning and Laundry Services
Loan Approval Date
7/25/2000
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
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 4 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 4 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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:
Determining Proper Capital Structure for a Business
SBA Participating Banks in Providence, Rhode Island
SBA Lenders in Rhode Island