Fall River, Massachusetts Bank Lends Money to Single-Family Housing Construction Company in Barrington, Rhode Island

Find Fall River, Massachusetts banks that specialize in SBA loans and know how to work with entrepreneurs. Bank - Fall River A Co-Operati is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Barrington, Rhode Island starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Bank - Fall River A Co-Operati. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SINGLE-FAMILY HOUSING CONSTRUCTION
BARRINGTON, RI 02806

SBA Loan Lender

BANK - FALL RIVER A CO-OPERATI
30 BEDFORD ST
FALL RIVER, MA 02720

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1521 - Single-Family Housing Construction

NAICS Code

233210 - Single Family Housing Construction

Loan Approval Date

8/6/2003

Loan Approval Gross Amount

$760,000

Loan Approval from the SBA

Of the total $760,000 loan amount, the SBA guaranteed $570,000.

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 7 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank - Fall River A Co-Operati and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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