Telecommunications Loans

With these loans for telecommunications, the SBA guarantees the lender that the loan will be repaid. This telecommunications loan for $540,000 was given to a Rhode Island entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in East Providence, Rhode Island was able to borrow $540,000 from Bank Rhode Island. The SBA made the loan possible by guaranteeing $405,000 of this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMUNICATIONS SERVICES
EAST PROVIDENCE, RI 02916

SBA Loan Lender

BANK RHODE ISLAND
1 TURKS HEAD PL
PROVIDENCE, RI 02903

This SBA bank loan 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

4899 - Communications Services

NAICS Code

513390 - Telecommunications

Loan Approval Date

9/28/2001

Loan Approval Gross Amount

$540,000

Loan Approval from the SBA

Of the total $540,000 loan amount, the SBA guaranteed $405,000.

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 25 employees. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My 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 Bank Rhode Island 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.

Related Links:

Family and Friend Investors - Your First Financiers

SBA 7A Banks for Providence, Rhode Island Loans

Find an SBA Lender in Rhode Island