SBA Loan from Bank Of America Helps Jewelry, Watch, Precious Stone, And Precious Metal Merchant Wholesalers Company

Bank Of America has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Freeport, New York, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Bank Of America, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: JEWELRY, WATCH, PRECIOUS STONE, AND PRECIOUS METAL MERCHANT WHOLESALERS
FREEPORT, NY 11520

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This commercial 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.

NAICS Code

423940 - Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers

Loan Approval Date

7/29/2003

Loan Approval Gross Amount

$28,000

Loan Approval from the SBA

Of the total $28,000 loan amount, the SBA guaranteed $14,000.

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. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

Business Line of Credit

SBA Approved Banks in Providence, Rhode Island

Where to Get an SBA Loan Rhode Island