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May 10, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Jewelry Stores Loan | ||||
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Bank Of America SBA Loan Elizabeth, New Jersey
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Elizabeth, New Jersey Business Gets SBA-Guaranteed Funding from Bank Of AmericaBank Of America has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them. This small firm knew how to go about getting a business bank loan. Based in Elizabeth, New Jersey, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Bank Of America, based in Providence, Rhode Island. SBA Loan Borrower COMPANY TYPE: JEWELRY STORES 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 448310 - Jewelry Stores Loan Approval Date 11/9/2000 Loan Approval Gross Amount $32,700 Loan Approval from the SBA Of the total $32,700 loan amount, the SBA guaranteed $16,350. 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 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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
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