How to Get a Loan for Coffee and Tea Manufacturing
Looking for commercial loans for coffee and tea manufacturing? An SBA loan may be just what you've been looking for. This $54,100 coffee and tea manufacturing loan was issued by a Rhode Island bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Brooklyn (borough Of New York), New York was able to borrow $54,100 from Bank Of America. The SBA made the loan possible by guaranteeing $27,050 of this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: COFFEE AND TEA MANUFACTURING
BROOKLYN (BOROUGH OF NEW YORK), NY 11206
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
The lender provided this business 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
311920 - Coffee and Tea Manufacturing
Loan Approval Date
8/9/2002
Loan Approval Gross Amount
$54,100
Loan Approval from the SBA
Of the total $54,100 loan amount, the SBA guaranteed $27,050.
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 generate 1 new job and retain 4 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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:
Borrowing Money from Friends and Family
SBA Banks in Providence, Rhode Island
SBA Rhode Island Lenders