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December 23, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Management Consulting Services Loan | ||||
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Rhode Island SBA Lenders
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Providence, Rhode Island Bank Gives SBA Loan to Management Consulting Services CompanyWant to talk with a Providence, Rhode Island bank about an SBA loan? Here's one Connecticut 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 Old Greenwich, Connecticut. They received an SBA loan for $100,000. Sweet! SBA Loan Borrower COMPANY TYPE: MANAGEMENT CONSULTING SERVICES SBA Loan Lender BANK OF AMERICA This lender processed this SBA small business 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 8742 - Management Consulting Services Loan Approval Date 6/2/2000 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: Find an SBA Lender in Providence, Rhode Island
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