Greenville, Rhode Island Lender Lends Money to Veterinary Services For Animal Specialties Company

A Greenville, Rhode Island business loan can be yours. Learn how a business got a $240,000 business loan from this Rhode Island bank.

This loan to a local firm is a good example of an SBA loan. Freedom National Bank made the loan and the SBA guaranteed a portion of the loan. Many other Rhode Island entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: VETERINARY SERVICES FOR ANIMAL SPECIALTIES
GREENVILLE, RI 02828

SBA Loan Lender

FREEDOM NATIONAL BANK
584 PUTNAM PIKE
GREENVILLE, RI 02828

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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

0742 - Veterinary Services for Animal Specialties

NAICS Code

541940 - Veterinary Services

Loan Approval Date

12/19/2003

Loan Approval Gross Amount

$240,000

Loan Approval from the SBA

Of the total $240,000 loan amount, the SBA guaranteed $180,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Greenville RI, you ought to talk with a local Greenville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Greenville businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Freedom National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Freedom National Bank 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 - Getting Venture Capital

Small Bank Loans in Greenville, Rhode Island

SBA Participating Banks in Rhode Island