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May 11, 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 > Insurance Agents And Brokers Loan | ||||
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Rhode Island Bank SBA Loans
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Providence, Rhode Island Bank Gives SBA Loan to Insurance Agents And Brokers CompanyA Providence, Rhode Island small business loan can be yours. Learn how one firm got a $12,000 business loan from this Rhode Island bank. This loan to an entrepreneur is a good example of an SBA loan. Bank Of America made the loan and the SBA guaranteed a portion of the loan. Many other New York entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENTS AND BROKERS SBA Loan Lender BANK OF AMERICA The lender provided this debt financing 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. SIC Code 6411 - Insurance Agents and Brokers Loan Approval Date 3/28/2000 Loan Approval Gross Amount $12,000 Loan Approval from the SBA Of the total $12,000 loan amount, the SBA guaranteed $6,000. 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 3 employees. This SBA loan request indicated that the funding would help create 1 new job. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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 Getting an SBA Loan in Rhode Island
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