Rhode Island SBA Loan Issued to Yarn Texturizing, Throwing, Twisting, And Winding Company

Small business loans in Rhode Island are hard to find these days. We take a look at one Rhode Island small business loan, provided by a Massachusetts bank, that was approved by the SBA.

By giving the right information to Commerce Bank & Trust Company, this Cental Falls, Rhode Island business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: YARN TEXTURIZING, THROWING, TWISTING, AND WINDING
CENTAL FALLS, RI 02863

SBA Loan Lender

COMMERCE BANK & TRUST COMPANY
386 MAIN ST
WORCESTER, MA 01608

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2282 - Yarn Texturizing, Throwing, Twisting, and Winding

NAICS Code

313112 - Yarn Texturizing, Throwing, and Twisting Mills

Loan Approval Date

12/22/2004

Loan Approval Gross Amount

$662,000

Loan Approval from the SBA

Of the total $662,000 loan amount, the SBA guaranteed $496,500.

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

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Cental Falls RI, you ought to talk with a local Cental Falls SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cental Falls businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Commerce Bank & Trust Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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