Cranston, Rhode Island Lender Lends Money to Drapery, Curtain, And Upholstery Stores Company

Thinking about meeting with a Cranston, Rhode Island bank about an SBA loan? Here's one Rhode Island business loan, issued by a Cranston bank, that was approved by the SBA.

Applying for an SBA loan with Coastway Cu worked out well for our friends at one local firm in Coventry, Rhode Island. They received an SBA loan for $60,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: DRAPERY, CURTAIN, AND UPHOLSTERY STORES
COVENTRY, RI 02816

SBA Loan Lender

COASTWAY CU
25 LOVELL AVE
CRANSTON, RI 02920

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

5714 - Drapery, Curtain, and Upholstery Stores

Loan Approval Date

5/16/2000

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $48,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Coastway Cu are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Realistic Debt Financing Options

Find an SBA Lender in Cranston, Rhode Island

Getting a Business Loan in Rhode Island