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November 15, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Newport, Business Loans > Banknewport Newport Business Loans > Full-Service Restaurants Loan | ||||
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Banks in Newport, Rhode Island That Make SBA Loans
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Newport, Rhode Island Lender Lends Money to Full-Service Restaurants CompanyThinking about meeting with a Newport, Rhode Island bank about an SBA loan? Here's one Rhode Island business loan, issued by a Newport bank, that was approved by the SBA. Applying for an SBA loan with Banknewport worked out well for our friends at one local firm in Bristol (town Of), Rhode Island. They received an SBA loan for $75,000. Way to go! SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender BANKNEWPORT The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 722110 - Full-Service Restaurants Loan Approval Date 11/7/2005 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 15 employees. The loan application indicated that the loan would help retain 15 existing jobs. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Banknewport had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Banknewport 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: SBA Approved Banks in Newport, Rhode Island
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