Getting an SBA Loan for Marine Fishing

With these SBA loans for marine fishing, the SBA guarantees the lender that the loan will be repaid. This marine fishing loan for $950,000 was given to a Massachusetts entrepreneur in 2001.

Getting a small business loan in New Bedford, Massachusetts was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Rbs Citizens, operating out of Providence, Rhode Island. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: NARROW FABRIC AND OTHER SMALLWARES MILLS
NEW BEDFORD, MA 02744

SBA Loan Lender

RBS CITIZENS
ONE CITIZENS PLAZA
PROVIDENCE, RI 02903

This SBA 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

2241 - Narrow Fabric and Other Smallwares Mills

NAICS Code

114119 - Marine Fishing

Loan Approval Date

12/19/2001

Loan Approval Gross Amount

$950,000

Loan Approval from the SBA

Of the total $950,000 loan amount, the SBA guaranteed $712,500.

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 48 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Rbs Citizens and they will explain how you can get an SBA loan for your company.

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:

Advice on Getting a Small Business Loan

Good Banks for Small Business in Providence, Rhode Island

Rhode Island SBA Banks