 |
 |
December 23, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Computer Related Services Loan | ||||
 |
||||
Rhode Island Bank SBA Loans
|
||||
 |
Bank Of America SBA Loan to Computer Related Services CompanyWant a Massachusetts business loan? Here's one Massachusetts business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Acton, Massachusetts was able to borrow $75,000 from Bank Of America. The SBA made the loan possible by guaranteeing $37,500 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER RELATED SERVICES SBA Loan Lender BANK OF AMERICA The lender provided this SBA bank 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. SIC Code 7379 - Computer Related Services Loan Approval Date 1/14/2000 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 12 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 12 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA 7A Banks for Providence, Rhode Island Loans SBA Participating Banks in Rhode Island
|
|
||
|
||||
|
|
||||