Business Loan from Bank Of America Given to Book, Periodical, And Newspaper Wholesalers 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 Haverford, Pennsylvania business owner got a $50,000 loan.

This business knew how to go about getting a business bank loan. Based in Haverford, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Bank Of America, based in Blue Bell, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: BOOK, PERIODICAL, AND NEWSPAPER WHOLESALERS
HAVERFORD, PA 19041

SBA Loan Lender

BANK OF AMERICA
4 SENTRY PKWY, STE 200
BLUE BELL, PA 19422

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

422920 - Book, Periodical, and Newspaper Wholesalers

Loan Approval Date

4/24/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

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

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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.

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