On-Line Information Services Business Loans

With these business loans for on-line information services, the SBA guarantees the lender that the loan will be repaid. This on-line information services loan for $38,600 was given to a Massachusetts entrepreneur in 2002.

This small business knew how to go about getting a business bank loan. Based in Boston, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Bank Of America, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: ON-LINE INFORMATION SERVICES
BOSTON, MA 02116

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This lender processed this SBA small business 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.

NAICS Code

514191 - On-Line Information Services

Loan Approval Date

8/12/2002

Loan Approval Gross Amount

$38,600

Loan Approval from the SBA

Of the total $38,600 loan amount, the SBA guaranteed $19,300.

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 SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Getting a Small Business Loan

SBA Approved Banks in Providence, Rhode Island

Getting an SBA Loan in Rhode Island