Bank Loans for Commercial and Institutional Building Construction
Looking for bank loans for commercial and institutional building construction? An SBA loan may be just what you've been looking for. This $30,000 commercial and institutional building construction loan was issued by a Rhode Island bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kennett Square, Pennsylvania was able to borrow $30,000 from Bank Of America. The SBA made the loan possible by guaranteeing $15,000 of this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION
KENNETT SQUARE, PA 19348
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
The lender provided this commercial 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.
NAICS Code
236220 - Commercial and Institutional Building Construction
Loan Approval Date
2/19/2003
Loan Approval Gross Amount
$30,000
Loan Approval from the SBA
Of the total $30,000 loan amount, the SBA guaranteed $15,000.
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 20 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 20 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Every year, the SBA guarantees over $10 billion for loans just like this one.
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:
Business Line of Credit
SBA Participating Banks in Providence, Rhode Island
Rhode Island SBA Bank Lenders