SBA Loan from First Trade Union Bank Helps Carpentry Work Company

An SBA loan from First Trade Union Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an East Providence, Rhode Island business owner got a $130,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in East Providence, Rhode Island was able to borrow $130,000 from First Trade Union Bank. The SBA made the loan possible by guaranteeing $97,500 of this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: CARPENTRY WORK
EAST PROVIDENCE, RI 02916

SBA Loan Lender

FIRST TRADE UNION BANK
25 DRYDOCK AVE
BOSTON, MA 02210

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1751 - Carpentry Work

NAICS Code

235510 - Carpentry Contractors

Loan Approval Date

1/28/2000

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $97,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 26 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Trade Union Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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