 |
 |
December 23, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Allied Cleaning & Restorative Loan | ||||
 |
||||
SBA 7A Banks in Rhode Island
|
||||
 |
Loan to Buy Servicemaster Franchise Issued By Bank Of AmericaNeed a loan to invest in a Servicemaster franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. If you live near Coventry (washington), Rhode Island and are interested in buying a Servicemaster franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Bank Of America. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower ALLIED CLEANING & RESTORATIVE SBA Loan Lender BANK OF AMERICA 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 561720 - Janitorial Services Loan Approval Date 7/30/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Servicemaster franchise. At the time of the loan, the company had 4 employees. The SBA loan documents 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? If you have been wondering how do i get money to start a business in Coventry (washington) RI, you ought to talk with a local Coventry (washington) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Coventry (washington) 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: Obtaining Funding - Getting Venture Capital Best Providence, Rhode Island Banks for Small Business
|
|
||
|
||||
|
|
||||