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December 23, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Special Trade Contractors Loan | ||||
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Rhode Island Bank SBA Loans
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Bank Of America SBA Loan to Special Trade Contractors CompanySearching for a Rhode Island small business loan? Here's one Rhode Island business loan that was approved by the SBA. This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $128,000 to help grow their Warwick (rr Name Apponaug), Rhode Island business. SBA Loan Borrower COMPANY TYPE: SPECIAL TRADE CONTRACTORS SBA Loan Lender BANK OF AMERICA The lender provided this small business 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. SIC Code 1799 - Special Trade Contractors Loan Approval Date 3/14/2000 Loan Approval Gross Amount $128,000 Loan Approval from the SBA Of the total $128,000 loan amount, the SBA guaranteed $64,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 12 employees. The loan application indicated that the loan would help retain 12 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you want money for new small business in Warwick (rr Name Apponaug) RI, you ought to talk with a local Warwick (rr Name Apponaug) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Warwick (rr Name Apponaug) businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Small Business Banks in Providence, Rhode Island SBA Participating Banks in Rhode Island
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