Bank Of America Gives Small Business Loan to Industrial Machinery And Equipment Wholesalers Company
Rhode IslandBank loans are available to Rhode Island firms through the SBA. In this case, a Rhode Island bank provides the loan.
Getting a small business loan in North Kingstown (local Name Wi, Rhode Island was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this Rhode Island small business loan.
SBA Loan Borrower
COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT WHOLESALERS
NORTH KINGSTOWN (LOCAL NAME WI, RI 02852
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This SBA 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
421830 - Industrial Machinery and Equipment Wholesalers
Loan Approval Date
9/14/2001
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
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 3 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 4 existing jobs.
Next Steps for Getting an SBA Loan
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.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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:
Determining Proper Capital Structure for a Business
SBA 7A Banks for Providence, Rhode Island Loans
SBA Lenders in Rhode Island