Entrepreneur Works With Providence, Rhode Island Bank to Get an SBA Loan

Thinking about meeting with a Providence, Rhode Island bank about an SBA loan? Here's one New York business loan, issued by a Providence bank, that was approved by the SBA.

Applying for an SBA loan with Bank Of America worked out well for our friends at one local business in Spring Valley, New York. They received an SBA loan for $50,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: MUSIC PUBLISHERS
SPRING VALLEY, NY 10977

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The lender provided this 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

512230 - Music Publishers

Loan Approval Date

9/23/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 11 employees. This SBA loan request indicated that the loan would help retain 11 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 - How to Decide How Much to Raise

SBA 7A Lenders in Providence, Rhode Island

Getting an SBA Loan in Rhode Island