Providence, Rhode Island Lender Lends Money to Machine Shops Company

Find Providence, Rhode Island banks that specialize in SBA loans and know how to work with entrepreneurs. Bank Of America is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in South Hadley, Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Bank Of America. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
SOUTH HADLEY, MA 01705

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

4/12/2001

Loan Approval Gross Amount

$157,300

Loan Approval from the SBA

Of the total $157,300 loan amount, the SBA guaranteed $117,975.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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

Best Providence, Rhode Island Banks for Small Business

Getting an SBA Loan in Rhode Island