Water and Sewer Line and Related Structures Construction Small Business Loans

Looking for small business loans for water and sewer line and related structures construction? The SBA may be the answer. This $2,000,000 water and sewer line and related structures construction loan was issued by a Rhode Island bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Middletown, Rhode Island was able to borrow $2,000,000 from Sovereign Bank. The SBA made the loan possible by guaranteeing $1,500,000 of this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: WATER, SEWER, AND UTILITY LINES
MIDDLETOWN, RI 02842

SBA Loan Lender

SOVEREIGN BANK
ONE FINANCIAL PLZ
PROVIDENCE, RI 02903

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1623 - Water, Sewer, and Utility Lines

NAICS Code

237110 - Water and Sewer Line and Related Structures Construction

Loan Approval Date

4/3/2006

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

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 26 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Sovereign Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

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Good Banks for Small Business in Providence, Rhode Island

SBA Rhode Island Lenders