Cranston, Rhode Island Lender Lends Money to Women's Clothing Stores Company

Get to know Cranston, Rhode Island banks that specialize in small business loans and know how to work with entrepreneurs. Coastway Cu is one such bank, as evidenced by this SBA loan to a growing company.

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 company received funding from Coastway Cu. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
BARRINGTON, RI 02806

SBA Loan Lender

COASTWAY CU
25 LOVELL AVE
CRANSTON, RI 02920

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

448120 - Women's Clothing Stores

Loan Approval Date

8/17/2006

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $120,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Obtaining Funding - Friends and Family

SBA Participating Banks in Cranston, Rhode Island

Find an SBA Lender in Rhode Island