SBA Loan from Bank Of America Helps Physicians Company

Bank Of America and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rego Park, New York was able to borrow $31,700 from Bank Of America. The SBA made the loan possible by guaranteeing $15,850 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
REGO PARK, NY 11374

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

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

621111 - Physicians

Loan Approval Date

4/2/2002

Loan Approval Gross Amount

$31,700

Loan Approval from the SBA

Of the total $31,700 loan amount, the SBA guaranteed $15,850.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Rego Park NY, you ought to talk with a local Rego Park SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Rego Park businesses.

We can help you find the best banks for small businesses in Rego Park or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Alternative Financing

Small Business Banks in Providence, Rhode Island

Rhode Island SBA 7A Lenders