Funeral Homes and Funeral Services Loans
Looking for loans for funeral homes and funeral services? The SBA may be the answer. This $50,000 funeral homes and funeral services loan was issued by a Rhode Island bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ocean Gate, New Jersey was able to borrow $50,000 from Bank Of America. The SBA made the loan possible by guaranteeing $25,000 of this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: FUNERAL SERVICE AND CREMATORIES
OCEAN GATE, NJ 08731
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This lender processed this bank loan 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.
SIC Code
7261 - Funeral Service and Crematories
NAICS Code
812210 - Funeral Homes and Funeral Services
Loan Approval Date
3/1/2000
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 4 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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 Art of Bootstrapping
SBA Approved Banks in Providence, Rhode Island
SBA Participating Banks in Rhode Island