Raising Money for Service Establishment Equipment and Supplies Wholesalers
With these bank loans for service establishment equipment and supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This service establishment equipment and supplies wholesalers loan for $20,000 was given to a New York entrepreneur in 2001.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in East Elmhurst, New York was able to borrow $20,000 from Bank Of America. The SBA made the loan possible by guaranteeing $10,000 of this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: SERVICE ESTABLISHMENT EQUIPMENT AND SUPPLIES WHOLESALERS
EAST ELMHURST, NY 11369
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
The lender provided this 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.
NAICS Code
421850 - Service Establishment Equipment and Supplies Wholesalers
Loan Approval Date
11/6/2001
Loan Approval Gross Amount
$20,000
Loan Approval from the SBA
Of the total $20,000 loan amount, the SBA guaranteed $10,000.
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 3 employees. The SBA loan documents indicated that the loan would help retain 3 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.
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