SBA Loan from Bank Of America Helps General Line Grocery Wholesalers Company
Bank Of America and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Jersey entrepreneur was able to get a loan to take a small business to the next level.
This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $90,000 to help grow their Metuchen, New Jersey business.
SBA Loan Borrower
COMPANY TYPE: GENERAL LINE GROCERY WHOLESALERS
METUCHEN, NJ 08840
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
422410 - General Line Grocery Wholesalers
Loan Approval Date
12/27/2002
Loan Approval Gross Amount
$90,000
Loan Approval from the SBA
Of the total $90,000 loan amount, the SBA guaranteed $45,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.
Start the Process for Getting an SBA Loan Today!
SBA loans provide smart, affordable business financing for small businesses looking to expand.
This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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:
Debt Financing
SBA 7A Lenders in Providence, Rhode Island
Rhode Island SBA Banks