How to Get a Loan for Carpentry Contractors
With these business loans for carpentry contractors, the SBA guarantees the lender that the loan will be repaid. This carpentry contractors loan for $100,000 was given to a New York entrepreneur in 2000.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Deer Park, New York was able to borrow $100,000 from Bank Of America. The SBA made the loan possible by guaranteeing $50,000 of this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: CARPENTRY WORK
DEER PARK, NY 11729
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.
SIC Code
1751 - Carpentry Work
NAICS Code
235510 - Carpentry Contractors
Loan Approval Date
9/13/2000
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. This loan was not for a franchise. At the time of the loan, the company
had 7 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 12 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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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