Commercial Loans for Confectionery and Nut Stores

With these commercial loans for confectionery and nut stores, the SBA guarantees the lender that the loan will be repaid. This confectionery and nut stores loan for $11,100 was given to a New York entrepreneur in 2001.

Getting a small business loan in Farmingdale, New York was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America, operating out of Providence, Rhode Island. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: CONFECTIONERY AND NUT STORES
FARMINGDALE, NY 11735

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.

NAICS Code

445292 - Confectionery and Nut Stores

Loan Approval Date

10/18/2001

Loan Approval Gross Amount

$11,100

Loan Approval from the SBA

Of the total $11,100 loan amount, the SBA guaranteed $5,550.

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 documents indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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:

Small Business Loan

Who Lends Money to Small Businesses in Providence, Rhode Island

Getting a Business Loan in Rhode Island