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May 16, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Blue Bell, Business Loans > Bank Of America Blue Bell Business Loans > Child Day Care Services Loan | ||||
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PA Small Business Loans from Bank Of America
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Business Loan from Bank Of America Given to Child Day Care Services CompanyAn SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Norristown, Pennsylvania business owner got a $50,000 loan. This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bank Of America, out of Blue Bell, Pennsylvania. The loan was granted and they received $50,000 to help grow their Norristown, Pennsylvania business. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender BANK OF AMERICA The lender provided this loan for a small business 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 624410 - Child Day Care Services Loan Approval Date 3/20/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 13 employees. The SBA loan documents indicated that the loan would help retain 13 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to raise money for a company in Norristown PA, you ought to talk with a local Norristown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Norristown businesses. 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: Good Banks for Small Business in Blue Bell, Pennsylvania Browse All Business Loan Sources for Pennsylvania
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