Cranston, Rhode Island Business Gets SBA-Guaranteed Funding from Bank Rhode Island

Bank Rhode Island has a track record as a leading provider of SBA loans. Find out how this Rhode Island entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bank Rhode Island, out of Providence, Rhode Island. The loan was granted and they received $30,000 to help grow their Cranston, Rhode Island business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
CRANSTON, RI 02910

SBA Loan Lender

BANK RHODE ISLAND
ONE TURKS HEAD PLACE
PROVIDENCE, RI 02903

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

9/17/2004

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $30,000. How would you spend $30,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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

Small Bank Loans in Providence, Rhode Island

Rhode Island SBA 7A Lenders