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November 21, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Used Car Dealers Loan | ||||
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Fort Lee, New Jersey Bank for SBA Loans
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Used Car Dealers Small Business LoansWith these small business loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $35,000 was given to a New Jersey entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fort Lee, New Jersey was able to borrow $35,000 from Bank Of America. The SBA made the loan possible by guaranteeing $17,500 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender BANK OF AMERICA The lender provided this SBA 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 441120 - Used Car Dealers Loan Approval Date 3/5/2001 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. 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 19 employees. The SBA loan application for the borrower indicated that the loan would help retain 19 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $35,000 loan. Remember, you control your own destiny. 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: Best Banks in Providence, Rhode Island
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