Bank Of America SBA Loan to Cellular And Wireless Company

An SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Westfield, Massachusetts business owner got a $100,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Westfield, Massachusetts was able to borrow $100,000 from Bank Of America. The SBA made the loan possible by guaranteeing $50,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: CELLULAR AND WIRELESS
WESTFIELD, MA 01089

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The lender provided this SBA 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

513322 - Cellular and Wireless

Loan Approval Date

7/10/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 8 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 13 existing jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Borrowing Money from Friends and Family

SBA Participating Banks in Providence, Rhode Island

Getting an SBA Loan in Rhode Island