Financing for Home Centers

Looking for commercial loans for home centers? An SBA loan may be just what you've been looking for. This $50,000 home centers loan was issued by a Rhode Island bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Barrington, Rhode Island was able to borrow $50,000 from Banknewport. The SBA made the loan possible by guaranteeing $25,000 of this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME CENTERS
BARRINGTON, RI 02806

SBA Loan Lender

BANKNEWPORT
10 WASHINGTON SQ
NEWPORT, RI 02840

This lender processed this bank loan 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

444110 - Home Centers

Loan Approval Date

9/25/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 5 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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 $50,000 loan. Remember, feel the fear, and do it anyway.

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:

Dealing With Venture Capitalists

SBA Banks in Newport, Rhode Island

Getting an SBA Loan in Rhode Island