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May 10, 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 > Jewelry, Watches And Precious Stones Loan | ||||
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How Do We Get a Business Loan in Westerly (census Name Westerly, Rhode Island?
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How to Get a Loan for Jewelry, Watch, Precious Stone, and Precious Metal WholesalersWith these commercial loans for jewelry, watch, precious stone, and precious metal wholesalers, the SBA guarantees the lender that the loan will be repaid. This jewelry, watch, precious stone, and precious metal wholesalers loan for $53,100 was given to a Rhode Island entrepreneur in 2000. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Westerly (census Name Westerly, Rhode Island was able to borrow $53,100 from Bank Of America. The SBA made the loan possible by guaranteeing $26,550 of this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: JEWELRY, WATCHES AND PRECIOUS STONES 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. SIC Code 5094 - Jewelry, Watches and Precious Stones NAICS Code 421940 - Jewelry, Watch, Precious Stone, and Precious Metal Wholesalers Loan Approval Date 9/18/2000 Loan Approval Gross Amount $53,100 Loan Approval from the SBA Of the total $53,100 loan amount, the SBA guaranteed $26,550. 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 only one employee. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 6 existing jobs. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Banking Deregulation's Effects on Entrepreneurship Who Lends Money to Small Businesses in Providence, Rhode Island Getting an SBA Loan in Rhode Island
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