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November 24, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Providence, Business Loans > Rbs Citizens Providence Business Loans > Supermarkets And Grocery Stores Loan | ||||
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Rbs Citizens SBA Loans
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Raising Money for Supermarkets and Grocery StoresLooking for bank loans for supermarkets and grocery stores? The SBA may be the answer. This $100,000 supermarkets and grocery stores loan was issued by a Rhode Island bank. This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Rbs Citizens, out of Providence, Rhode Island. The loan was granted and they received $100,000 to help grow their Detroit, Michigan business. SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender RBS CITIZENS The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 445110 - Supermarkets and Grocery Stores Loan Approval Date 11/10/2005 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 5 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 7 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Raising VC Money for Social Networking Companies SBA Participating Banks in Providence, Rhode Island
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