SBA Loan from Bank Of America Helps Floor Covering Stores Company

Bank Of America is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New York entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pittsford, New York was able to borrow $96,000 from Bank Of America. The SBA made the loan possible by guaranteeing $48,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
PITTSFORD, NY 14534

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This lender processed this 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

5713 - Floor Covering Stores

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

3/13/2000

Loan Approval Gross Amount

$96,000

Loan Approval from the SBA

Of the total $96,000 loan amount, the SBA guaranteed $48,000.

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 retain 4 existing jobs.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Pittsford NY, you ought to talk with a local Pittsford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pittsford businesses.

This SBA loan was for $96,000. How would you spend $96,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Role of Business Plan When Raising Money

SBA 7A Banks in Providence, Rhode Island

Getting an SBA Loan in Rhode Island