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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 > Specialized Design Services Loan | ||||
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New York, New York Bank Loan
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Firm Gets a New York Business LoanSmall business loans in New York are tough to come by these days. We take a look at one New York small business loan, provided by a Rhode Island bank, that was approved by the SBA. Getting a small business loan in New York, New York was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALIZED DESIGN SERVICES SBA Loan Lender BANK OF AMERICA The lender provided this SBA 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 541490 - Specialized Design Services Loan Approval Date 12/9/2003 Loan Approval Gross Amount $52,500 Loan Approval from the SBA Of the total $52,500 loan amount, the SBA guaranteed $26,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. This SBA loan was for $52,500. How would you spend $52,500 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: Obtaining Funding - How to Decide How Much to Raise SBA 7A Banks in Providence, Rhode Island
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