N. Smithfield, RI Entrepreneur Gets SBA Loan to Buy L'Il General Franchise

Borrowing money to buy a L'Il General franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in N. Smithfield, Rhode Island needed money to invest in a L'Il General franchise back in 2001. Bank Of America issued an SBA franchise loan. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

LIL GENERAL CONVENIENCE STORE
N. SMITHFIELD, RI 02896

SBA Loan Lender

BANK OF AMERICA
1075 MAIN ST/MS MADE 13502C
WALTHAM, MA 02451

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 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

5411 - Grocery Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

2/12/2001

Loan Approval Gross Amount

$126,000

Loan Approval from the SBA

Of the total $126,000 loan amount, the SBA guaranteed $94,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a L'Il General franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $126,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

The Friends and Family Network

Best Waltham, Massachusetts Banks for Small Business

Browse All Business Loan Sources for Massachusetts