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December 23, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Lumber, Plywood, Millwork, And Wood Panels Loan | ||||
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Getting an SBA 7A Loan in Greenville, New York
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New York Business Loan Issued to Lumber, Plywood, Millwork, And Wood Panels CompanyLooking to get a New York bank loan? This New York entrepreneur got a bank loan, provided by a Rhode Island bank that works with the SBA to help small business owners. By giving the right information to Bank Of America, this Greenville, New York business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: LUMBER, PLYWOOD, MILLWORK, AND WOOD PANELS SBA Loan Lender BANK OF AMERICA As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5031 - Lumber, Plywood, Millwork, and Wood Panels NAICS Code 421310 - Loan Approval Date 4/28/2000 Loan Approval Gross Amount $457,000 Loan Approval from the SBA Of the total $457,000 loan amount, the SBA guaranteed $342,750. 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 35 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 39 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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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