Rhode Island Small Business Loan Issued to Concrete Contractors Company

Rhode IslandBank loans are available to Rhode Island firms through the SBA. In this case, a Rhode Island bank provides the loan.

Getting a small business loan in Cranston, Rhode Island was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: CONCRETE CONTRACTORS
CRANSTON, RI 02920

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

235710 - Concrete Contractors

Loan Approval Date

12/6/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 15 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 15 existing jobs.

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Advice on Getting a Small Business Loan

SBA 7A Banks in Providence, Rhode Island

SBA Lenders in Rhode Island