Getting an SBA Loan for Single Family Housing Construction
Looking for SBA loans for single family housing construction? Talk to a banker who works with the SBA. This $125,000 single family housing construction loan was issued by a Rhode Island bank.
This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $125,000 to help grow their Burlington (burlington Center), Connecticut business.
SBA Loan Borrower
COMPANY TYPE: SINGLE FAMILY HOUSING CONSTRUCTION
BURLINGTON (BURLINGTON CENTER), CT 06013
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This business loan 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
233210 - Single Family Housing Construction
Loan Approval Date
10/17/2000
Loan Approval Gross Amount
$125,000
Loan Approval from the SBA
Of the total $125,000 loan amount, the SBA guaranteed $62,500.
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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 4 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
If you have been wondering how do i get money to start a business in Burlington (burlington Center) CT, you ought to talk with a local Burlington (burlington Center) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Burlington (burlington Center) businesses.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
Find Start-Up Capital
SBA Approved Banks in Providence, Rhode Island
Rhode Island SBA Bank Lenders