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May 2, 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 > Sporting And Recreational Goods And Supplies Loan | ||||
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Bank Of America
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Business Loan from Bank Of America Given to Sporting And Recreational Goods And Supplies CompanyBank Of America is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Rhode Island entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tiverton, Rhode Island was able to borrow $99,100 from Bank Of America. The SBA made the loan possible by guaranteeing $49,550 of this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES 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. SIC Code 5091 - Sporting and Recreational Goods and Supplies NAICS Code 421910 - Sporting and Recreational Goods and Supplies Wholesalers Loan Approval Date 7/25/2000 Loan Approval Gross Amount $99,100 Loan Approval from the SBA Of the total $99,100 loan amount, the SBA guaranteed $49,550. 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 only one employee. The loan application indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $99,100 loan. Remember, things become real when you believe you can achieve them! 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: Borrowing Money from Friends and Family Banks in Providence, Rhode Island Getting an SBA Loan in Rhode Island
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