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November 15, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Full-Service Restaurants Loan | ||||
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Who Lends Money to Narragansett Small Businesses
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Rhode Island SBA Loan Issued to Full-Service Restaurants CompanyRhode IslandBusiness loans are available to Rhode Island business owners through the SBA. In this case, a Virginia bank provides the loan. Getting a small business loan in Narragansett, Rhode Island was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Capital One. Here are the details on this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender CAPITAL ONE This lender processed this SBA bank 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 722110 - Full-Service Restaurants Loan Approval Date 12/21/2006 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 55 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 55 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 $75,000 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: Microlending as a Small Business Funding Source Find an SBA Lender in Mclean, Virginia
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