Bank Of America Gives Business Loan to Laundry And Garment Services Company

Would a New York business loan help your company expand? If so, you may want to talk with this Rhode Island bank, which offers SBA loans to New York entrepreneurs.

Getting a small business loan in Far Rockaway, New York was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: LAUNDRY AND GARMENT SERVICES
FAR ROCKAWAY, NY 11693

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The lender provided this SBA business 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

7219 - Laundry and Garment Services

Loan Approval Date

5/17/2000

Loan Approval Gross Amount

$38,200

Loan Approval from the SBA

Of the total $38,200 loan amount, the SBA guaranteed $19,100.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of America and they will explain how you can get an SBA loan for your company.

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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SBA Approved Banks in Providence, Rhode Island

Rhode Island SBA 7A Banks