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May 10, 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 > Wholesale Trade Agents And Brokers Loan | ||||
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Raising Money in Valley Stream, New York With SBA Loans
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Bank Of America Gives Bank Loan to Wholesale Trade Agents And Brokers CompanyNew YorkBank loans are available to New York firms through the SBA. In this case, a Rhode Island bank provides the loan. This business, based in Valley Stream, New York, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of America. We've got the inside scoop on this New York small business loan. SBA Loan Borrower COMPANY TYPE: WHOLESALE TRADE AGENTS AND BROKERS SBA Loan Lender BANK OF AMERICA The lender provided this SBA loan 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 425120 - Wholesale Trade Agents and Brokers Loan Approval Date 11/22/2004 Loan Approval Gross Amount $44,500 Loan Approval from the SBA Of the total $44,500 loan amount, the SBA guaranteed $22,250. 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 only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. If you need emergency business money, 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 - How to Decide How Much to Raise Best Banks for Small Business in Providence, Rhode Island
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