Entrepreneur Works With Providence, Rhode Island Bank to Get an SBA Loan

Thinking about meeting with a Providence, Rhode Island bank about a small business loan? Here's one Pennsylvania business loan, issued by a Providence bank, that was approved by the SBA.

Applying for an SBA loan with Bank Of America worked out well for our friends at one local company in Wilkes-Barre, Pennsylvania. The business was able to get an SBA loan for $90,700. Way to go!

SBA Loan Borrower

COMPANY TYPE: NEW CAR DEALERS
WILKES-BARRE, PA 18702

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The lender provided this debt financing 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

441110 - New Car Dealers

Loan Approval Date

9/26/2001

Loan Approval Gross Amount

$90,700

Loan Approval from the SBA

Of the total $90,700 loan amount, the SBA guaranteed $45,350.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 14 existing jobs.

Getting an SBA Loan For Your Business

If you need business start up money in Wilkes-Barre PA, you ought to talk with a local Wilkes-Barre SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wilkes-Barre businesses.

If you need emergency money for small business, 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:

Business Incubators

Where to Get an SBA Loan in Providence, Rhode Island

Rhode Island SBA Banks