Cranston, Rhode Island Lender Lends Money to Industrial And Commercial Machinery And Equipment Company

Thinking about meeting with a Cranston, Rhode Island bank about a small business 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 business in Cranston, Rhode Island. They received an SBA loan for $200,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT
CRANSTON, RI 02920

SBA Loan Lender

COASTWAY CU
25 LOVELL AVE
CRANSTON, RI 02920

This lender processed this loan for a small business 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.

SIC Code

3599 - Industrial and Commercial Machinery and Equipment

NAICS Code

333999 - General Purpose Machinery Manufacturing

Loan Approval Date

4/5/2000

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 30 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 30 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Coastway Cu so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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