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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Providence, Business Loans > Rbs Citizens Providence Business Loans > Administrative Management And General Management Consulting Services Loan | ||||
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Providence, Rhode Island SBA Lenders
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Entrepreneur Works With Providence, Rhode Island Bank to Get an SBA LoanWant to talk with a Providence, Rhode Island bank about an SBA loan? Here's one Ohio business loan, issued by a Providence bank, that was approved by the SBA. Applying for an SBA loan with Rbs Citizens worked out well for our friends at one local company in Euclid, Ohio. They got an SBA loan for $10,000. Nice! SBA Loan Borrower COMPANY TYPE: ADMINISTRATIVE MANAGEMENT AND GENERAL MANAGEMENT CONSULTING SERVICES SBA Loan Lender RBS CITIZENS The lender provided this bank 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 541611 - Administrative Management and General Management Consulting Services Loan Approval Date 8/30/2005 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you want money for new small business in Euclid OH, you ought to talk with a local Euclid SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Euclid businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Good Banks for Small Business in Providence, Rhode Island
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