Rbs Citizens Gives SBA Loan to Toys And Hobby Goods And Supplies Company
Would a Rhode Island small business loan help your small business to grow and prosper? If so, you may want to talk with this Rhode Island bank, which offers SBA loans to Rhode Island entrepreneurs.
You can learn something about getting a small business loan in Narragansett,, Rhode Island by studying this loan to a local company, made back in 2004. Banks like Rbs Citizens may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: TOYS AND HOBBY GOODS AND SUPPLIES
NARRAGANSETT,, RI 02882
SBA Loan Lender
RBS CITIZENS
ONE CITIZENS PLZ
PROVIDENCE, RI 02903
This bank 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
5092 - Toys and Hobby Goods and Supplies
NAICS Code
421920 - Toy and Hobby Goods and Supplies Wholesalers
Loan Approval Date
7/9/2004
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $45,000.
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 2 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
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 Rbs Citizens 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:
Bank Credit Lines
Small Business Banks in Providence, Rhode Island
Find an SBA Lender in Rhode Island