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

Get SBA loans from an East Greenwich, Rhode Island bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Independence Bank is a East Greenwich, Rhode Island small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Alaska company.

SBA Loan Borrower

COMPANY TYPE: FRESH AND FROZEN SEAFOOD PROCESSING
ADAK, AK 99546

SBA Loan Lender

INDEPENDENCE BANK
1370 S COUNTY TRL
EAST GREENWICH, RI 02818

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311712 - Fresh and Frozen Seafood Processing

Loan Approval Date

2/4/2008

Loan Approval Gross Amount

$1,650,000

Loan Approval from the SBA

Of the total $1,650,000 loan amount, the SBA guaranteed $1,485,000.

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 125 employees. The loan application indicated that the loan would help retain 125 existing jobs.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,650,000 loan. Remember, anyone can do it... so why not 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:

Business Incubators

SBA 7A Lenders in East Greenwich, Rhode Island

Rhode Island SBA Banks