SBA Loan from Bank Of America Helps Fresh Fruits And Vegetables Company

An SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Brooklyn (borough Of New York), New York business owner got a $100,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Brooklyn (borough Of New York), New York, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Bank Of America, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: FRESH FRUITS AND VEGETABLES
BROOKLYN (BOROUGH OF NEW YORK), NY 11211

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This lender processed this SBA bank 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.

SIC Code

5148 - Fresh Fruits and Vegetables

NAICS Code

422480 - Fresh Fruit and Vegetable Wholesalers

Loan Approval Date

6/21/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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