SBA Loan from Bank Of America Helps Insurance Agents And Brokers Company

An SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Floral Park, New York business owner got a $25,000 loan.

This business knew how to go about getting a business bank loan. Based in Floral Park, New York, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Bank Of America, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
FLORAL PARK, NY 11001

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The lender provided this small 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

6411 - Insurance Agents and Brokers

Loan Approval Date

5/10/2000

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 1 new job and retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a company in Floral Park NY, you ought to talk with a local Floral Park SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Floral Park businesses.

We can help you find the best banks for small businesses in Floral Park or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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