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December 23, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Paper Industry Machinery Manufacturing Loan | ||||
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Brick Town (local Name Laurelt, New Jersey Bank Loan
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Paper Industry Machinery Manufacturing Small Business LoansLooking for small business loans for paper industry machinery manufacturing? An SBA loan may be just what you've been looking for. This $50,000 paper industry machinery manufacturing loan was issued by a Rhode Island bank. This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $50,000 to help grow their Brick Town (local Name Laurelt, New Jersey business. SBA Loan Borrower COMPANY TYPE: PAPER INDUSTRY MACHINERY MANUFACTURING 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. NAICS Code 333291 - Paper Industry Machinery Manufacturing Loan Approval Date 6/16/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Raising VC Money for Social Networking Companies SBA 7A Banks for Providence, Rhode Island Loans
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