SBA Loan from Domestic Bank Helps Business Services Company

An SBA loan from Domestic Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cumberland, Rhode Island business owner got a $95,000 loan.

Getting a small business loan in Cumberland, Rhode Island was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Domestic Bank, operating out of Cranston, Rhode Island. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
CUMBERLAND, RI 02864

SBA Loan Lender

DOMESTIC BANK
815 RESERVOIR AVE
CRANSTON, RI 02910

This lender issued this SBA 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

7389 - Business Services

Loan Approval Date

1/18/2000

Loan Approval Gross Amount

$95,000

Loan Approval from the SBA

Of the total $95,000 loan amount, the SBA guaranteed $76,000.

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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Domestic Bank and they will explain how you can get an SBA loan for your company.

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:

Direct Public Offerings

Find an SBA Lender in Cranston, Rhode Island

SBA Lenders in Rhode Island