Getting an SBA Loan for Direct Selling Establishments
With these SBA loans for direct selling establishments, the SBA guarantees the lender that the loan will be repaid. This direct selling establishments loan for $25,000 was given to a New Jersey entrepreneur in 2003.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bridgewater, New Jersey was able to borrow $25,000 from Bank Of America. The SBA made the loan possible by guaranteeing $12,500 of this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
BRIDGEWATER, NJ 08807
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
454390 - Direct Selling Establishments
Loan Approval Date
2/19/2003
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.
Next Steps for Getting an SBA Loan
Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
We can help you find the best banks for small businesses in Bridgewater or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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.
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Who Lends Money to Small Businesses in Providence, Rhode Island
Rhode Island SBA Banks