Newport Federal Savings Bank SBA Loan to Liquor Stores Company

An SBA loan from Newport Federal Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Newport, Rhode Island business owner got a $150,000 loan.

Getting a small business loan in Newport, Rhode Island was an essential business goal for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Newport Federal Savings Bank, operating out of Newport, Rhode Island. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: LIQUOR STORES
NEWPORT, RI 02840

SBA Loan Lender

NEWPORT FEDERAL SAVINGS BANK
100 BELLEVUE AVE
NEWPORT, RI 02840

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

5921 - Liquor Stores

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

8/17/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

SBIR Funding

Where to Get an SBA Loan in Newport, Rhode Island

Rhode Island SBA Bank Lenders