Where to Get Capital for Fine Arts Schools

With these small business loans for fine arts schools, the SBA guarantees the lender that the loan will be repaid. This fine arts schools loan for $54,900 was given to a Rhode Island entrepreneur in 2000.

This company knew how to go about getting a business bank loan. Based in West Warwick, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Bank Of America, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: FINE ARTS SCHOOLS
WEST WARWICK, RI 02893

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

611610 - Fine Arts Schools

Loan Approval Date

10/23/2000

Loan Approval Gross Amount

$54,900

Loan Approval from the SBA

Of the total $54,900 loan amount, the SBA guaranteed $27,450.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 Credit Cards

Who Lends Money to Small Businesses in Providence, Rhode Island

Where to Get an SBA Loan Rhode Island