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December 23, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Eating Places Loan | ||||
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Rhode Island SBA Banks
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Providence, Rhode Island Bank Gives SBA Loan to Eating Places CompanyWant to talk with a Providence, Rhode Island bank about a small business loan? Here's one Rhode Island business loan, issued by a Providence bank, that was approved by the SBA. Applying for an SBA loan with Bank Of America worked out well for our friends at one local firm in North Kingstown (local Name Wi, Rhode Island. The business was able to get an SBA loan for $31,000. Great job! SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender BANK OF AMERICA This lender processed this SBA small business 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. SIC Code 5812 - Eating Places Loan Approval Date 8/28/2000 Loan Approval Gross Amount $31,000 Loan Approval from the SBA Of the total $31,000 loan amount, the SBA guaranteed $15,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan 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. This SBA loan was for $31,000. How would you spend $31,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 Good Banks for Small Business in Providence, Rhode Island
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