SBA Loan from Bank Rhode Island Helps Jewelers' Materials And Lapidary Work Company

Bank Rhode Island and the SBA work together to get business loans for growing small businesses. Here's an example of how a Rhode Island entrepreneur was able to get a loan to take a small business to the next level.

This business knew how to go about getting a business bank loan. Based in Johnston, Rhode Island, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Bank Rhode Island, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: JEWELERS' MATERIALS AND LAPIDARY WORK
JOHNSTON, RI 02919

SBA Loan Lender

BANK RHODE ISLAND
1 TURKS HEAD PL
PROVIDENCE, RI 02903

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3915 - Jewelers' Materials and Lapidary Work

NAICS Code

339913 - Jewelers' Material and Lapidary Work Manufacturing

Loan Approval Date

9/28/2001

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $405,000.

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 22 employees. This SBA loan request did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Rhode Island and they will explain how you can get an SBA loan for your company.

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.

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