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November 14, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Gift, Novelty, And Souvenir Shops Loan | ||||
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Bank Of America
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SBA Loan from Bank Of America Helps Gift, Novelty, And Souvenir Shops CompanyBank Of America is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Jersey entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Newark, New Jersey was able to borrow $19,000 from Bank Of America. The SBA made the loan possible by guaranteeing $9,500 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS SBA Loan Lender BANK OF AMERICA This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 5947 - Gift, Novelty, and Souvenir Shops NAICS Code 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 1/20/2000 Loan Approval Gross Amount $19,000 Loan Approval from the SBA Of the total $19,000 loan amount, the SBA guaranteed $9,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 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 firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Find an SBA Lender in Providence, Rhode Island Find an SBA Lender in Rhode Island
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