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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Transportation Services Loan | ||||
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Rhode Island Bank SBA Loans
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Bank Of America SBA Loan to Transportation Services CompanySearching for a New York SBA loan? Here's one New York business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Schenectady, New York was able to borrow $12,400 from Bank Of America. The SBA made the loan possible by guaranteeing $6,200 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: TRANSPORTATION 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. SIC Code 4789 - Transportation Services Loan Approval Date 6/1/2000 Loan Approval Gross Amount $12,400 Loan Approval from the SBA Of the total $12,400 loan amount, the SBA guaranteed $6,200. 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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Participating Banks in Providence, Rhode Island
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