Rhode Island Bank Loan Issued to Women's And Misses' Suits And Coats Company

Would a Rhode Island bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Pennsylvania bank, which offers SBA loans to Rhode Island entrepreneurs.

You can learn something about getting a small business loan in Newport, Rhode Island by studying this loan to a local company, made back in 2000. Banks like Sovereign Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S AND MISSES' SUITS AND COATS
NEWPORT, RI 02840

SBA Loan Lender

SOVEREIGN BANK
125 S PROVIDENCE RD
MEDIA, PA 19063

When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program was created to give speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2337 - Women's and Misses' Suits and Coats

Loan Approval Date

6/13/2000

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $93,750.

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 6 employees. This SBA loan request did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Newport RI, you ought to talk with a local Newport SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Newport businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

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