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May 11, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Radio, Tv, And Consumer Electronics Retailing Loan | ||||
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SBA Lenders That Lend to New York Small Businesses
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Company Gets a New York Small Business LoanSBA loans in New York are are few and far betweeen these days. We take a look at one New York SBA loan, provided by a Rhode Island bank, that was approved by the SBA. This company, based in Long Island City, New York, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of America. We've got the inside scoop on this New York small business loan. SBA Loan Borrower COMPANY TYPE: RADIO, TV, AND CONSUMER ELECTRONICS RETAILING SBA Loan Lender BANK OF AMERICA The lender provided this bank loan 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. SIC Code 5731 - Radio, TV, and Consumer Electronics Retailing NAICS Code 443112 - Radio, Television, and Electronics Stores Loan Approval Date 7/25/2000 Loan Approval Gross Amount $84,800 Loan Approval from the SBA Of the total $84,800 loan amount, the SBA guaranteed $42,400. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. 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 $84,800 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: Role of Business Plan When Raising Money Banks in Providence, Rhode Island Where to Get an SBA Loan Rhode Island
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