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December 23, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Commercial Photography Loan | ||||
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New York, New York Bank Loan
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Commercial Photography Business LoansWith these business loans for commercial photography, the SBA guarantees the lender that the loan will be repaid. This commercial photography loan for $45,900 was given to a New York entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New York, New York was able to borrow $45,900 from Bank Of America. The SBA made the loan possible by guaranteeing $22,950 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL PHOTOGRAPHY SBA Loan Lender BANK OF AMERICA The lender provided this SBA 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 541922 - Commercial Photography Loan Approval Date 10/19/2001 Loan Approval Gross Amount $45,900 Loan Approval from the SBA Of the total $45,900 loan amount, the SBA guaranteed $22,950. 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. The SBA loan application for the borrower 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Banking Deregulation's Effects on Entrepreneurship Best Banks in Providence, Rhode Island
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