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December 23, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Furniture Stores Loan | ||||
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Rhode Island SBA 7A Lenders
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Providence, Rhode Island Bank Gives SBA Loan to Furniture Stores CompanyThinking about meeting with a Providence, Rhode Island bank about a business loan? Here's one Massachusetts business loan, issued by a Providence bank, that was approved by the SBA. Applying for an SBA loan with Bank Of America worked out well for our friends at one local business in Natick (town Of), Massachusetts. They received an SBA loan for $82,500. Nice! SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender BANK OF AMERICA The lender provided this loan for a small business 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 442110 - Furniture Stores Loan Approval Date 4/28/2004 Loan Approval Gross Amount $82,500 Loan Approval from the SBA Of the total $82,500 loan amount, the SBA guaranteed $41,250. 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 17 employees. This SBA loan request indicated that the loan would help retain 17 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. If you need to find money for a business, 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: Obtaining Funding From a Venture Capitalist Find an SBA Lender in Providence, Rhode Island
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