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May 10, 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 > Home Furnishing Wholesalers Loan | ||||
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Bank Of America
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SBA Loan from Bank Of America Helps Home Furnishing Wholesalers CompanyBank Of America has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in College Point, New York, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Bank Of America, based in Providence, Rhode Island. SBA Loan Borrower COMPANY TYPE: HOME FURNISHING WHOLESALERS SBA Loan Lender BANK OF AMERICA This commercial 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 421220 - Home Furnishing Wholesalers Loan Approval Date 1/17/2002 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 9 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 11 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: SBA 7A Lenders in Providence, Rhode Island Getting an SBA Loan in Rhode Island
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