Providence, Rhode Island Bank Lends Money to Motor Vehicle Supplies And New Parts Company in Taunton, Massachusetts
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 Taunton, Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a local company 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: MOTOR VEHICLE SUPPLIES AND NEW PARTS
TAUNTON, MA 02780
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5013 - Motor Vehicle Supplies and New Parts
NAICS Code
421120 - Motor Vehicle Supplies and New Parts Wholesalers
Loan Approval Date
1/11/2000
Loan Approval Gross Amount
$307,000
Loan Approval from the SBA
Of the total $307,000 loan amount, the SBA guaranteed $230,250.
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 7 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of America and they will explain how you can get an SBA loan for your company.
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:
Bank Credit Lines
Good Banks for Small Business in Providence, Rhode Island
SBA Participating Banks in Rhode Island