Providence, Rhode Island Lender Lends Money to Women's Clothing Stores Company
Thinking about meeting with a Providence, Rhode Island bank about a small business loan? Here's one New York business loan, issued by a Providence bank, that was approved by the SBA.
Applying for an SBA loan with Bank Of America worked out well for our friends at one local company in New York, New York. They got an SBA loan for $135,000. Great job!
SBA Loan Borrower
COMPANY TYPE: WOMEN'S CLOTHING STORES
NEW YORK, NY 10012
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
448120 - Women's Clothing Stores
Loan Approval Date
9/18/2002
Loan Approval Gross Amount
$135,000
Loan Approval from the SBA
Of the total $135,000 loan amount, the SBA guaranteed $67,500.
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 110 employees. The loan application indicated that the loan would help retain 110 existing jobs.
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:
Realistic Debt Financing Options
SBA Approved Banks in Providence, Rhode Island
Rhode Island SBA 7A Lenders