Commercial Loans for Discount Department Stores
Looking for commercial loans for discount department stores? Talk to a banker who works with the SBA. This $27,500 discount department stores loan was issued by a Rhode Island bank.
This business knew how to go about getting a business bank loan. Based in Bronx, New York, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Bank Of America, based in Providence, Rhode Island.
SBA Loan Borrower
COMPANY TYPE: DISCOUNT DEPARTMENT STORES
BRONX, NY 10456
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
The lender provided this SBA 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.
NAICS Code
452112 - Discount Department Stores
Loan Approval Date
12/13/2004
Loan Approval Gross Amount
$27,500
Loan Approval from the SBA
Of the total $27,500 loan amount, the SBA guaranteed $13,750.
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 6 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Small Business Credit Cards
SBA 7A Banks for Providence, Rhode Island Loans
SBA Participating Banks in Rhode Island