Business Loan from Bank Of America Given to Sign Manufacturing 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 Cedar Grove, New Jersey business owner got a $29,900 loan.

This growing company knew how to go about getting a business bank loan. Based in Cedar Grove, New Jersey, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Bank Of America, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: SIGN MANUFACTURING
CEDAR GROVE, NJ 07009

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

339950 - Sign Manufacturing

Loan Approval Date

8/14/2002

Loan Approval Gross Amount

$29,900

Loan Approval from the SBA

Of the total $29,900 loan amount, the SBA guaranteed $14,950.

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 21 employees. The SBA loan application for the borrower indicated that the loan would help retain 21 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Angel Investors

SBA Banks in Providence, Rhode Island

Rhode Island SBA Bank Lenders