Getting an SBA Loan for Residential Remodelers
Looking for business loans for residential remodelers? Try the SBA. This $43,500 residential remodelers loan was issued by a Rhode Island bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Milford (town Of), Massachusetts was able to borrow $43,500 from Bank Of America. The SBA made the loan possible by guaranteeing $21,750 of this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: RESIDENTIAL REMODELERS
MILFORD (TOWN OF), MA 01757
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
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.
NAICS Code
236118 - Residential Remodelers
Loan Approval Date
3/26/2004
Loan Approval Gross Amount
$43,500
Loan Approval from the SBA
Of the total $43,500 loan amount, the SBA guaranteed $21,750.
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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.
Next Steps for Getting an SBA Loan
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
While you may be able to borrow money from friends and family, 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.
Related Links:
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Getting a Business Loan in Rhode Island