SBA Loan from Bank Of America Helps Photography Studios, Portrait Company
An SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a New York, New York business owner got a $10,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New York, New York was able to borrow $10,000 from Bank Of America. The SBA made the loan possible by guaranteeing $5,000 of this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT
NEW YORK, NY 10011
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
541921 - Photography Studios, Portrait
Loan Approval Date
12/13/2004
Loan Approval Gross Amount
$10,000
Loan Approval from the SBA
Of the total $10,000 loan amount, the SBA guaranteed $5,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans provide money to small business owners for working capital for other expenses.
We can help you find the best banks for small businesses in New York or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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.
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