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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 > Used Car Dealers Loan | ||||
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Who Can Get a Business Loan in Valatie, New York?
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How to Get a Loan for Used Car DealersWith these commercial loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $17,000 was given to a New York entrepreneur in 2003. This small business knew how to go about getting a business bank loan. Based in Valatie, New York, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Bank Of America, based in Providence, Rhode Island. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender BANK OF AMERICA This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 441120 - Used Car Dealers Loan Approval Date 9/16/2003 Loan Approval Gross Amount $17,000 Loan Approval from the SBA Of the total $17,000 loan amount, the SBA guaranteed $8,500. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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 From a Venture Capitalist Good Banks for Small Business in Providence, Rhode Island
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