Lowell, Massachusetts Business Gets SBA-Guaranteed Funding from Bank Rhode Island

Bank Rhode Island is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Massachusetts entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Lowell, Massachusetts was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Bank Rhode Island, operating out of Providence, Rhode Island. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: DENTISTS
LOWELL, MA 01852

SBA Loan Lender

BANK RHODE ISLAND
ONE TURKS HEAD PLACE
PROVIDENCE, RI 02903

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

621210 - Dentists

Loan Approval Date

7/21/2003

Loan Approval Gross Amount

$32,700

Loan Approval from the SBA

Of the total $32,700 loan amount, the SBA guaranteed $16,350.

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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Small Business Loan

SBA 7A Banks for Providence, Rhode Island Loans

Rhode Island SBA 7A Banks