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April 27, 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 > Jewelry, Watches And Precious Stones Loan | ||||
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New York, New York Bank for SBA Loans
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Financing for Jewelry, Watch, Precious Stone, and Precious Metal WholesalersLooking for commercial loans for jewelry, watch, precious stone, and precious metal wholesalers? Talk to a banker who works with the SBA. This $150,000 jewelry, watch, precious stone, and precious metal wholesalers loan was issued by a Rhode Island bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New York, New York was able to borrow $150,000 from Bank Of America. The SBA made the loan possible by guaranteeing $75,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: JEWELRY, WATCHES AND PRECIOUS STONES SBA Loan Lender BANK OF AMERICA The lender provided this business 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 5094 - Jewelry, Watches and Precious Stones NAICS Code 421940 - Jewelry, Watch, Precious Stone, and Precious Metal Wholesalers Loan Approval Date 10/17/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 6 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Banks for Small Business in Providence, Rhode Island
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