How to Get a Loan for Construction, Mining, and Forestry Machinery Equipment Rental and Leasing
With these commercial loans for construction, mining, and forestry machinery equipment rental and leasing, the SBA guarantees the lender that the loan will be repaid. This construction, mining, and forestry machinery equipment rental and leasing loan for $21,000 was given to a New Jersey entrepreneur in 2004.
This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $21,000 to help grow their Hampton, New Jersey business.
SBA Loan Borrower
COMPANY TYPE: CONSTRUCTION, MINING, AND FORESTRY MACHINERY EQUIPMENT RENTAL AND LEASING
HAMPTON, NJ 08827
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
The lender provided this loan for a small business 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.
NAICS Code
532412 - Construction, Mining, and Forestry Machinery Equipment Rental and Leasing
Loan Approval Date
11/1/2004
Loan Approval Gross Amount
$21,000
Loan Approval from the SBA
Of the total $21,000 loan amount, the SBA guaranteed $10,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had only one employee. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
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:
Business Credit Evaluation
Banks in Providence, Rhode Island
Browse All Business Loan Sources for Rhode Island