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November 14, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Windsor, Business Loans > Ups Capital Business Credit Windsor Business Loans > Costume Jewelry And Costume Novelties, Except Loan | ||||
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Ups Capital Business Credit SBA 7A Loans
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Costume Jewelry and Novelty Manufacturing Commercial LoansLooking for commercial loans for costume jewelry and novelty manufacturing? Try the SBA. This $1,000,000 costume jewelry and novelty manufacturing loan was issued by a Connecticut bank. Getting a small business loan in Greenville, Rhode Island was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Ups Capital Business Credit, operating out of Windsor, Connecticut. Here are the details on this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: COSTUME JEWELRY AND COSTUME NOVELTIES, EXCEPT SBA Loan Lender UPS CAPITAL BUSINESS CREDIT This lender issued this debt financing under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3961 - Costume Jewelry and Costume Novelties, Except NAICS Code 339914 - Costume Jewelry and Novelty Manufacturing Loan Approval Date 8/21/2001 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $750,000. 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 45 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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: Best Windsor, Connecticut Banks for Small Business
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