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December 23, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Women's Clothing Stores Loan | ||||
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SBA 7A Banks That Lend to Ocean Beach Businesses
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New York SBA Loan Issued to Women's Clothing Stores CompanyWant a New York business loan? This New York entrepreneur got a business loan, provided by a Rhode Island bank that works with the SBA to help small business owners. Getting a small business loan in Ocean Beach, New York was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: WOMEN'S CLOTHING STORES SBA Loan Lender BANK OF AMERICA This lender processed this debt financing 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 448120 - Women's Clothing Stores Loan Approval Date 4/23/2004 Loan Approval Gross Amount $34,000 Loan Approval from the SBA Of the total $34,000 loan amount, the SBA guaranteed $17,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: Banking Deregulation's Effects on Entrepreneurship Small Business Banks in Providence, Rhode Island Find an SBA Lender in Rhode Island
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