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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 > Gift, Novelty, And Souvenir Stores Loan | ||||
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Raising Money in New York, New York With SBA Loans
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Where to Get Capital for Gift, Novelty, and Souvenir StoresLooking for SBA loans for gift, novelty, and souvenir stores? An SBA loan may be just what you've been looking for. This $60,100 gift, novelty, and souvenir stores loan was issued by a Rhode Island bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New York, New York was able to borrow $60,100 from Bank Of America. The SBA made the loan possible by guaranteeing $30,050 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES SBA Loan Lender BANK OF AMERICA 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 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 2/13/2002 Loan Approval Gross Amount $60,100 Loan Approval from the SBA Of the total $60,100 loan amount, the SBA guaranteed $30,050. 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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This SBA loan was for $60,100. How would you spend $60,100 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Determining Proper Capital Structure for a Business SBA 7A Lenders in Providence, Rhode Island
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