 |
 |
November 15, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Coin-Operated Laundries And Drycleaners Loan | ||||
 |
||||
Newton, Massachusetts Bank Loan
|
||||
 |
Coin-Operated Laundries and Drycleaners Bank LoansLooking for bank loans for coin-operated laundries and drycleaners? The SBA may be the answer. This $55,100 coin-operated laundries and drycleaners loan was issued by a Rhode Island bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Newton, Massachusetts was able to borrow $55,100 from Bank Of America. The SBA made the loan possible by guaranteeing $27,550 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS 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 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 2/6/2002 Loan Approval Gross Amount $55,100 Loan Approval from the SBA Of the total $55,100 loan amount, the SBA guaranteed $27,550. 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 5 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 15 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: The Friends and Family Network Who Lends Money to Small Businesses in Providence, Rhode Island
|
|
||
|
||||
|
|
||||