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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 > Florists Loan | ||||
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Banks in Rhode Island
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Financing for FloristsWith these commercial loans for florists, the SBA guarantees the lender that the loan will be repaid. This florists loan for $10,000 was given to a Rhode Island entrepreneur in 2000. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Providence, Rhode Island was able to borrow $10,000 from Bank Of America. The SBA made the loan possible by guaranteeing $5,000 of this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender BANK OF AMERICA This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 453110 - Florists Loan Approval Date 10/24/2000 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Providence, Rhode Island Banks for Small Business
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