Getting an SBA Loan for Single Family Housing Construction
Looking for SBA loans for single family housing construction? Try the SBA. This $87,500 single family housing construction loan was issued by a Rhode Island bank.
This business knew how to go about getting a business bank loan. Based in Guilford (census Name Guilford, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Bank Of America, based in Providence, Rhode Island.
SBA Loan Borrower
COMPANY TYPE: SINGLE FAMILY HOUSING CONSTRUCTION
GUILFORD (CENSUS NAME GUILFORD, CT 06437
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This 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
233210 - Single Family Housing Construction
Loan Approval Date
2/16/2001
Loan Approval Gross Amount
$87,500
Loan Approval from the SBA
Of the total $87,500 loan amount, the SBA guaranteed $43,750.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $87,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
How to Raise Money
Who Lends Money to Small Businesses in Providence, Rhode Island
SBA Participating Banks in Rhode Island