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May 13, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Direct Mail Advertising Loan | ||||
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Bank Of America
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Bank Of America SBA Loan to Direct Mail Advertising 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 Scarborough, Maine business owner got a $94,500 loan. This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $94,500 to help grow their Scarborough, Maine business. SBA Loan Borrower COMPANY TYPE: DIRECT MAIL ADVERTISING SBA Loan Lender BANK OF AMERICA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 541860 - Direct Mail Advertising Loan Approval Date 10/16/2001 Loan Approval Gross Amount $94,500 Loan Approval from the SBA Of the total $94,500 loan amount, the SBA guaranteed $47,250. 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 4 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 7 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Obtaining Funding - How to Borrow Money SBA Approved Banks in Providence, Rhode Island
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