Rhode Island Small Business Loan Issued to Paper Industries Machinery Company

Bank loans in Rhode Island are are few and far betweeen these days. We take a look at one Rhode Island bank loan, provided by a New Jersey bank, that was approved by the SBA.

You can learn something about getting a small business loan in N. Smithfield, Rhode Island by studying this loan to a local company, made back in 2004. Banks like Cit Small Business Lending Corp may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: PAPER INDUSTRIES MACHINERY
N. SMITHFIELD, RI 02896

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3554 - Paper Industries Machinery

NAICS Code

333291 - Paper Industry Machinery Manufacturing

Loan Approval Date

1/15/2004

Loan Approval Gross Amount

$558,728

Loan Approval from the SBA

Of the total $558,728 loan amount, the SBA guaranteed $419,046.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 18 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Direct Public Offerings

Best Livingston, New Jersey Banks for Small Business

New Jersey SBA 7A Lenders