Cranston, Rhode Island Bank Gives SBA Loan to Drinking Places Company

Get to know Cranston, Rhode Island banks that specialize in small business loans and know how to work with entrepreneurs. Coastway Cu is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Lincoln (br. P.O.), Rhode Island starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Coastway Cu. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
LINCOLN (BR. P.O.), RI 02865

SBA Loan Lender

COASTWAY CU
25 LOVELL AVE
CRANSTON, RI 02920

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

722410 - Drinking Places

Loan Approval Date

9/21/2006

Loan Approval Gross Amount

$230,000

Loan Approval from the SBA

Of the total $230,000 loan amount, the SBA guaranteed $115,000.

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 3 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $230,000. How would you spend $230,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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