Rbs Citizens Gives SBA Loan to Painting And Wall Covering Contractors Company

Looking to get a Massachusetts SBA loan? This Massachusetts entrepreneur got an SBA loan, provided by a Rhode Island bank that works with the SBA to help small business owners.

Getting a small business loan in Framingham, Massachusetts was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Rbs Citizens. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINTING AND WALL COVERING CONTRACTORS
FRAMINGHAM, MA 01701

SBA Loan Lender

RBS CITIZENS
ONE CITIZENS PLAZA
PROVIDENCE, RI 02903

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

238320 - Painting and Wall Covering Contractors

Loan Approval Date

8/18/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Rbs Citizens had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Rbs Citizens made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Obtaining Funding - How to Borrow Money

Small Bank Loans in Providence, Rhode Island

Where to Get an SBA Loan Rhode Island