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May 9, 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 > Tobacco And Tobacco Product Wholesalers Loan | ||||
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Raising Money in New York, New York With SBA Loans
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Tobacco and Tobacco Product Wholesalers Small Business LoansLooking for small business loans for tobacco and tobacco product wholesalers? Try the SBA. This $19,600 tobacco and tobacco product wholesalers loan was issued by a Rhode Island bank. This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $19,600 to help grow their New York, New York business. SBA Loan Borrower COMPANY TYPE: TOBACCO AND TOBACCO PRODUCT WHOLESALERS SBA Loan Lender BANK OF AMERICA The lender provided this SBA 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. NAICS Code 422940 - Tobacco and Tobacco Product Wholesalers Loan Approval Date 7/31/2002 Loan Approval Gross Amount $19,600 Loan Approval from the SBA Of the total $19,600 loan amount, the SBA guaranteed $9,800. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 4 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. 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: Raising VC Money for Social Networking Companies SBA 7A Lenders in Providence, Rhode Island Browse All Business Loan Sources for Rhode Island
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