Entrepreneur Works With Providence, Rhode Island Bank to Get an SBA Loan

Get to know Providence, Rhode Island banks that specialize in small business loans and know how to work with entrepreneurs. Bank Of America is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Newburyport, Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Bank Of America. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: PROCESS, PHYSICAL DISTRIBUTION, AND LOGISTICS CONSULTING SERVICES
NEWBURYPORT, MA 01950

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This lender processed this loan for a small business 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.

NAICS Code

541614 - Process, Physical Distribution, and Logistics Consulting Services

Loan Approval Date

1/3/2005

Loan Approval Gross Amount

$41,500

Loan Approval from the SBA

Of the total $41,500 loan amount, the SBA guaranteed $20,750.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My 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 $41,500. How would you spend $41,500 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:

Debt Financing

Banks in Providence, Rhode Island

Getting a Business Loan in Rhode Island