 |
 |
December 23, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Tire Dealers Loan | ||||
 |
||||
Warwick (rr Name Apponaug) Business Loans from Bank Of America
|
||||
 |
SBA Loan from Bank Of America Helps Tire Dealers CompanyBank Of America has a track record as a leading provider of SBA loans. Find out how this Rhode Island entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Warwick (rr Name Apponaug), Rhode Island was able to borrow $22,500 from Bank Of America. The SBA made the loan possible by guaranteeing $11,250 of this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: TIRE DEALERS 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. NAICS Code 441320 - Tire Dealers Loan Approval Date 8/21/2002 Loan Approval Gross Amount $22,500 Loan Approval from the SBA Of the total $22,500 loan amount, the SBA guaranteed $11,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Microlending as a Small Business Funding Source Find an SBA Lender in Providence, Rhode Island Find an SBA Lender in Rhode Island
|
|
||
|
||||
|
|
||||