Middletown, Rhode Island Business Gets SBA-Guaranteed Funding from Rbs Citizens

An SBA loan from Rbs Citizens typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Middletown, Rhode Island business owner got a $7,500 loan.

This growing company knew how to go about getting a business bank loan. Based in Middletown, Rhode Island, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Rbs Citizens, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: LAWYERS
MIDDLETOWN, RI 02842

SBA Loan Lender

RBS CITIZENS
ONE CITIZENS PLAZA
PROVIDENCE, RI 02903

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

541110 - Lawyers

Loan Approval Date

2/28/2005

Loan Approval Gross Amount

$7,500

Loan Approval from the SBA

Of the total $7,500 loan amount, the SBA guaranteed $3,750.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

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

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Getting a Small Business Loan

Best Banks for Small Business in Providence, Rhode Island

SBA Lenders in Rhode Island