How to Get a Loan for Snack and Nonalcoholic Beverage Bars

Looking for SBA loans for snack and nonalcoholic beverage bars? The SBA may be the answer. This $210,000 snack and nonalcoholic beverage bars loan was issued by a Rhode Island bank.

This small business knew how to go about getting a business bank loan. Based in Cranston, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Washington Tr Co - Westerly, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
CRANSTON, RI 02920

SBA Loan Lender

WASHINGTON TR CO - WESTERLY
180 WASHINGTON ST
PROVIDENCE, RI 02903

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

10/17/2001

Loan Approval Gross Amount

$210,000

Loan Approval from the SBA

Of the total $210,000 loan amount, the SBA guaranteed $157,500.

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 only one employee. The SBA loan application for the borrower indicated that the borrowed money would help create 6 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Business Line of Credit

Find an SBA Lender in Providence, Rhode Island

Rhode Island SBA 7A Lenders