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May 10, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Automotive Body, Paint, And Interior Repair And Maintenance Loan | ||||
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Examples of Huntingdon Valley SBA Loans
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Automotive Body, Paint, and Interior Repair and Maintenance Business LoansLooking for business loans for automotive body, paint, and interior repair and maintenance? Try the SBA. This $185,000 automotive body, paint, and interior repair and maintenance loan was issued by a Rhode Island bank. Getting a small business loan in Huntingdon Valley, Pennsylvania was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America, operating out of Providence, Rhode Island. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE SBA Loan Lender BANK OF AMERICA This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 4/1/2004 Loan Approval Gross Amount $185,000 Loan Approval from the SBA Of the total $185,000 loan amount, the SBA guaranteed $138,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business If you need money to start business in Huntingdon Valley PA, you ought to talk with a local Huntingdon Valley SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Huntingdon Valley businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Obtaining Funding - How to Decide How Much to Raise Who Lends Money to Small Businesses in Providence, Rhode Island SBA Participating Banks in Rhode Island
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