Independence Bank Provides SBA Loan to Buy Ronzio Franchise

Borrowing money to buy a Ronzio franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Ronzio franchise is doable. In 2002, Independence Bank issued an SBA franchise loan to an entrepreneur in Cumberland, Rhode Island. Because Ronzio was registered with the SBA's registry of franchises, this Rhode Island small business loan was issued on an expedited basis.

SBA Loan Borrower

RONZIO PIZZA
CUMBERLAND, RI 02884

SBA Loan Lender

INDEPENDENCE BANK
1370 S COUNTY TRL
EAST GREENWICH, RI 02818

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/7/2002

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Ronzio franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Independence Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Ronzio Pizza

Understanding Dilution

SBA Participating Banks in East Greenwich, Rhode Island

Getting a Business Loan in Rhode Island