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November 15, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Landscaping Services Loan | ||||
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We Needed an SBA 7A Loan in Scarborough, Maine and We Got One!
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Landscaping Services Bank LoansLooking for bank loans for landscaping services? Talk to a banker who works with the SBA. This $100,000 landscaping services loan was issued by a Rhode Island bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Scarborough, Maine was able to borrow $100,000 from Bank Of America. The SBA made the loan possible by guaranteeing $50,000 of this Maine small business loan. SBA Loan Borrower COMPANY TYPE: LANDSCAPING SERVICES SBA Loan Lender BANK OF AMERICA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 561730 - Landscaping Services Loan Approval Date 11/2/2000 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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Obtaining Funding From a Venture Capitalist SBA Banks in Providence, Rhode Island Browse All Business Loan Sources for Rhode Island
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