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December 20, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Bank Rhode Island Providence Business Loans > Plastering, Drywall, And Insulation Loan | ||||
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Small Business Banks for East Providence Businesses
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Drywall, Plastering, Acoustical, and Insulation Contractors LoansWith these loans for drywall, plastering, acoustical, and insulation contractors, the SBA guarantees the lender that the loan will be repaid. This drywall, plastering, acoustical, and insulation contractors loan for $900,000 was given to a Rhode Island entrepreneur in 2002. This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Bank Rhode Island, out of Providence, Rhode Island. The loan was granted and they received $900,000 to help grow their East Providence, Rhode Island business. SBA Loan Borrower COMPANY TYPE: PLASTERING, DRYWALL, AND INSULATION SBA Loan Lender BANK RHODE ISLAND SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1742 - Plastering, Drywall, and Insulation NAICS Code 235420 - Drywall, Plastering, Acoustical, and Insulation Contractors Loan Approval Date 9/13/2002 Loan Approval Gross Amount $900,000 Loan Approval from the SBA Of the total $900,000 loan amount, the SBA guaranteed $675,000. 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 50 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $900,000 loan. Remember, things become real when you believe you can achieve them! 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: Determining Proper Capital Structure for a Business SBA 7A Banks for Providence, Rhode Island Loans
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