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January 26, 2025 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Child Day Care Services Loan | ||||
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Rhode Island SBA Lenders
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Providence, Rhode Island Lender Lends Money to Child Day Care Services CompanyWant to talk with a Providence, Rhode Island bank about an SBA loan? Here's one Connecticut business loan, issued by a Providence bank, that was approved by the SBA. Applying for an SBA loan with Bank Of America worked out well for our friends at one local firm in East Berlin, Connecticut. They received an SBA loan for $10,000. Way to go! SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender BANK OF AMERICA The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 8351 - Child Day Care Services NAICS Code 624410 - Child Day Care Services Loan Approval Date 4/26/2000 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 10 existing jobs. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Banking Deregulation's Effects on Entrepreneurship SBA 7A Banks for Providence, Rhode Island Loans
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