Milford, Delaware 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 Milford, Delaware business owner got a $10,000 loan.

Getting a small business loan in Milford, Delaware was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Rbs Citizens, operating out of Providence, Rhode Island. Here are the details on this Delaware small business loan.

SBA Loan Borrower

COMPANY TYPE: PRIVATE MAIL CENTERS
MILFORD, DE 19963

SBA Loan Lender

RBS CITIZENS
ONE CITIZENS PLZ
PROVIDENCE, RI 02903

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

561431 - Private Mail Centers

Loan Approval Date

8/9/2005

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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