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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 > Painting And Paper Hanging Loan | ||||
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NY Small Business Loans from Bank Of America
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SBA Loan from Bank Of America Helps Painting And Paper Hanging CompanyBank 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 small firm knew how to go about getting a business bank loan. Based in Hilton, New York, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Bank Of America, based in Providence, Rhode Island. SBA Loan Borrower COMPANY TYPE: PAINTING AND PAPER HANGING SBA Loan Lender BANK OF AMERICA The lender provided this bank 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. SIC Code 1721 - Painting and Paper Hanging NAICS Code 235210 - Painting and Wall Covering Loan Approval Date 9/26/2000 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you have been wondering how do i get money to start a business in Hilton NY, you ought to talk with a local Hilton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hilton businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Find an SBA Lender in Providence, Rhode Island
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