Providence, Rhode Island Bank Gives SBA Loan to Drinking Places Company
Thinking about meeting with a Providence, Rhode Island bank about a business loan? Here's one New York 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 Painted Post, New York. They received an SBA loan for $29,000. Nice!
SBA Loan Borrower
COMPANY TYPE: DRINKING PLACES
PAINTED POST, NY 14870
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
722410 - Drinking Places
Loan Approval Date
8/15/2003
Loan Approval Gross Amount
$29,000
Loan Approval from the SBA
Of the total $29,000 loan amount, the SBA guaranteed $14,500.
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. The loan application indicated that the loan would help retain 3 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
504 Loans
Small Business Banks in Providence, Rhode Island
SBA Rhode Island Banks