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May 10, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Aircraft Engines And Engine Parts Loan | ||||
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Banks Doing SBA Loans in Rhode Island
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Providence, Rhode Island Lender Lends Money to Aircraft Engines And Engine Parts CompanyWant to talk with a Providence, Rhode Island bank about an SBA loan? Here's one Connecticut 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 firm in East Windsor Hill, Connecticut. They received an SBA loan for $109,000. Awesome! SBA Loan Borrower COMPANY TYPE: AIRCRAFT ENGINES AND ENGINE PARTS 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. SIC Code 3724 - Aircraft Engines and Engine Parts Loan Approval Date 8/9/2000 Loan Approval Gross Amount $109,000 Loan Approval from the SBA Of the total $109,000 loan amount, the SBA guaranteed $54,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours 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: Role of Business Plan When Raising Money Best Banks in Providence, Rhode Island
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