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November 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Cranston, Business Loans > Rbs Citizens Cranston Business Loans > Computer Rental And Leasing Loan | ||||
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Rbs Citizens
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SBA Loan from Rbs Citizens Helps Computer Rental And Leasing CompanyRbs Citizens is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Massachusetts entrepreneur who tapped into the power of SBA loans. This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Rbs Citizens, out of Cranston, Rhode Island. The loan was granted and they received $1,000,000 to help grow their Boston, Massachusetts business. SBA Loan Borrower COMPANY TYPE: COMPUTER RENTAL AND LEASING SBA Loan Lender RBS CITIZENS This lender issued this SBA small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7377 - Computer Rental and Leasing NAICS Code 532420 - Office Machinery and Equipment Rental and Leasing Loan Approval Date 1/10/2003 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $750,000. 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 40 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Rbs Citizens had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Rbs Citizens made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Banks in Cranston, Rhode Island
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