North Kingstown (local Name Wi, RI Entrepreneur Gets SBA Loan to Buy Sea Tow Of Rhode Island Franchise

Borrowing money to purchase a Sea Tow Of Rhode Island franchise? Bank Rhode Island has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Sea Tow Of Rhode Island franchise? If so, here's a 2003 SBA franchise loan that you should know about. Bank Rhode Island was the lender and the entrepreneur was based in North Kingstown (local Name Wi, Rhode Island.

SBA Loan Borrower

SEA TOW OF RHODE ISLAND
NORTH KINGSTOWN (LOCAL NAME WI, RI 02852

SBA Loan Lender

BANK RHODE ISLAND
ONE TURKS HEAD PLACE
PROVIDENCE, RI 02903

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

488410 - Motor Vehicle Towing

Loan Approval Date

1/15/2003

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sea Tow Of Rhode Island franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to 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 $85,000. How would you spend $85,000 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.

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