Denville, New Jersey Business Gets SBA-Guaranteed Funding from Bank Of America

Bank Of America has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them.

This small firm 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 $34,500 to help grow their Denville, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL WORK
DENVILLE, NJ 07834

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

1731 - Electrical Work

NAICS Code

235310 - Electrical Contractors

Loan Approval Date

2/8/2000

Loan Approval Gross Amount

$34,500

Loan Approval from the SBA

Of the total $34,500 loan amount, the SBA guaranteed $17,250.

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 3 employees. The loan application indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $34,500. How would you spend $34,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Determining Proper Capital Structure for a Business

SBA 7A Banks in Providence, Rhode Island

Find an SBA Lender in Rhode Island