Bank Of America SBA Loan to Drywall, Plastering, Acoustical, And Insulation Contractors Company

An SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pottstown, Pennsylvania business owner got a $100,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pottstown, Pennsylvania was able to borrow $100,000 from Bank Of America. The SBA made the loan possible by guaranteeing $50,000 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYWALL, PLASTERING, ACOUSTICAL, AND INSULATION CONTRACTORS
POTTSTOWN, PA 19464

SBA Loan Lender

BANK OF AMERICA
4 SENTRY PKWY, STE 200
BLUE BELL, PA 19422

This lender processed this 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.

NAICS Code

235420 - Drywall, Plastering, Acoustical, and Insulation Contractors

Loan Approval Date

7/8/2003

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 7 employees. This SBA loan request indicated that the loan would help retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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.

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