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May 9, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Commercial Art And Graphic Design Loan | ||||
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Rhode Island Small Business Loans from Bank Of America
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Lincoln (br. P.O.), Rhode Island Business Gets SBA-Guaranteed Funding from Bank Of AmericaAn SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lincoln (br. P.O.), Rhode Island business owner got a $20,000 loan. This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $20,000 to help grow their Lincoln (br. P.O.), Rhode Island business. SBA Loan Borrower COMPANY TYPE: COMMERCIAL ART AND GRAPHIC DESIGN 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 7336 - Commercial Art and Graphic Design NAICS Code 541430 - Graphic Design Services Loan Approval Date 3/13/2000 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. 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 only one employee. The loan application indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $20,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA Participating Banks in Providence, Rhode Island
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