Narragansett (census Name Narr, RI Entrepreneur Gets SBA Loan to Buy Lady Of America Franchise

Need a loan to invest in a Lady Of America franchise? Business Lenders, LLC has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Narragansett (census Name Narr, Rhode Island needed money to invest in a Lady Of America franchise back in 2000. Business Lenders, LLC issued an SBA franchise loan. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

HEALTH CLUBS OF AMERICA
NARRAGANSETT (CENSUS NAME NARR, RI 02882

SBA Loan Lender

BUSINESS LENDERS, LLC
50 STATE HOUSE SQUARE 5TH FL
HARTFORD, CT 06103

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7991 - Physical Fitness Facilities

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

8/31/2000

Loan Approval Gross Amount

$81,800

Loan Approval from the SBA

Of the total $81,800 loan amount, the SBA guaranteed $65,440.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Lady Of America franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 $81,800 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:

Lady of America

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Small Bank Loans in Hartford, Connecticut

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