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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 > Industrial And Personal Service Paper Merchant Wholesalers Loan | ||||
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Who Lends Money to Deer Park Business Owners
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New York Bank Loan Issued to Industrial And Personal Service Paper Merchant Wholesalers CompanyBank loans in New York are are few and far betweeen these days. We take a look at one New York bank loan, provided by a Rhode Island bank, that was approved by the SBA. Getting a small business loan in Deer Park, New York was a top priority for this loan applicant back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL AND PERSONAL SERVICE PAPER MERCHANT WHOLESALERS 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 424130 - Industrial and Personal Service Paper Merchant Wholesalers Loan Approval Date 3/30/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 13 employees. The loan application indicated that the loan would help retain 13 existing jobs. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Good Banks for Small Business in Providence, Rhode Island
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