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November 15, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Unsupported Plastics Profile Shapes Manufacturing Loan | ||||
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New Britain SBA Loans from Bank Of America
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SBA Loan from Bank Of America Helps Unsupported Plastics Profile Shapes Manufacturing CompanyBank Of America and the SBA work together to get business loans for growing small businesses. Here's an example of how a Connecticut entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Britain, Connecticut was able to borrow $20,000 from Bank Of America. The SBA made the loan possible by guaranteeing $10,000 of this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: UNSUPPORTED PLASTICS PROFILE SHAPES MANUFACTURING SBA Loan Lender BANK OF AMERICA This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 326121 - Unsupported Plastics Profile Shapes Manufacturing Loan Approval Date 12/19/2000 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $20,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA 7A Lenders in Providence, Rhode Island
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