Providence, Rhode Island Lender Lends Money to Automotive Parts And Accessories Stores Company
Want to talk with a Providence, Rhode Island bank about an SBA loan? Here's one New Hampshire 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 firm in Newton, New Hampshire. They got an SBA loan for $14,000. Great job!
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES
NEWTON, NH 03858
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
441310 - Automotive Parts and Accessories Stores
Loan Approval Date
9/29/2003
Loan Approval Gross Amount
$14,000
Loan Approval from the SBA
Of the total $14,000 loan amount, the SBA guaranteed $7,000.
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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.
Getting an SBA Loan For Your Business
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of America and they will explain how you can get an SBA loan for your company.
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:
Startup Funding Tip
SBA Approved Banks in Providence, Rhode Island
Find an SBA Lender in Rhode Island