Bank Of America SBA Loan to Landscaping Services 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 Jackson (cassville), New Jersey business owner got a $78,800 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jackson (cassville), New Jersey was able to borrow $78,800 from Bank Of America. The SBA made the loan possible by guaranteeing $39,400 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: LANDSCAPING SERVICES
JACKSON (CASSVILLE), NJ 08527

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

561730 - Landscaping Services

Loan Approval Date

9/30/2002

Loan Approval Gross Amount

$78,800

Loan Approval from the SBA

Of the total $78,800 loan amount, the SBA guaranteed $39,400.

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 6 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 6 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.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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