Entrepreneur Works With Providence, Rhode Island Bank to Get an SBA Loan
Want to talk with a Providence, Rhode Island bank about an SBA loan? Here's one New York business loan, issued by a Providence bank, that was approved by the SBA.
Applying for an SBA loan with Bank Of America worked out well for our friends at one local firm in Brooklyn (borough Of New York), New York. The business was able to get an SBA loan for $81,300. Sweet!
SBA Loan Borrower
COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
BROOKLYN (BOROUGH OF NEW YORK), NY 11219
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
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
524210 - Insurance Agencies and Brokerages
Loan Approval Date
11/9/2000
Loan Approval Gross Amount
$81,300
Loan Approval from the SBA
Of the total $81,300 loan amount, the SBA guaranteed $40,650.
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 3 employees. The loan application indicated that the loan would help generate 1 new job and retain 4 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide smart, affordable business financing for small businesses looking to expand.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $81,300 loan. Remember, things become real when you believe you can achieve them!
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:
Financing Your Business
Best Providence, Rhode Island Banks for Small Business
Getting an SBA Loan in Rhode Island