Bank Loans for Piece Goods, Notions, and Dry Goods Merchant Wholesalers

With these bank loans for piece goods, notions, and dry goods merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This piece goods, notions, and dry goods merchant wholesalers loan for $50,000 was given to a New Jersey entrepreneur in 2005.

This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $50,000 to help grow their Little Ferry, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: PIECE GOODS, NOTIONS, AND DRY GOODS MERCHANT WHOLESALERS
LITTLE FERRY, NJ 07643

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This commercial 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

424310 - Piece Goods, Notions, and Dry Goods Merchant Wholesalers

Loan Approval Date

4/25/2005

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 5 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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 7A Banks for Providence, Rhode Island Loans

Where to Get an SBA Loan Rhode Island