SBA Loan from Bank Of America Helps Retail Stores Company
Bank Of America is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Jersey entrepreneur who tapped into the power of SBA loans.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Englishtown, New Jersey was able to borrow $37,200 from Bank Of America. The SBA made the loan possible by guaranteeing $18,600 of this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: RETAIL STORES
ENGLISHTOWN, NJ 07726
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
5999 - Retail Stores
Loan Approval Date
1/25/2000
Loan Approval Gross Amount
$37,200
Loan Approval from the SBA
Of the total $37,200 loan amount, the SBA guaranteed $18,600.
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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.
Getting an SBA Loan For Your Business
SBA loans provide money to small business owners for working capital for other expenses.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Strategic Investors
Banks in Providence, Rhode Island
SBA Participating Banks in Rhode Island