Bank Of America Gives Small Business Loan to Household Textile Product Mills Company
Searching for a New York small business loan? This New York entrepreneur got a small business loan, provided by a Rhode Island bank that works with the SBA to help small business owners.
You can learn something about getting a small business loan in Schenectady, New York by studying this loan to a local company, made back in 2004. Banks like Bank Of America may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: HOUSEHOLD TEXTILE PRODUCT MILLS
SCHENECTADY, NY 12306
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
The lender provided this commercial 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
314129 - Household Textile Product Mills
Loan Approval Date
10/18/2004
Loan Approval Gross Amount
$13,000
Loan Approval from the SBA
Of the total $13,000 loan amount, the SBA guaranteed $6,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $13,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Determining Proper Capital Structure for a Business
SBA Approved Banks in Providence, Rhode Island
SBA Rhode Island Banks