SBA Loans for Personal Care Services

With these SBA loans for personal care services, the SBA guarantees the lender that the loan will be repaid. This personal care services loan for $75,000 was given to a Rhode Island entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Providence (town Of), Rhode Island was able to borrow $75,000 from Coastway Cu. The SBA made the loan possible by guaranteeing $63,750 of this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL CARE SERVICES
NORTH PROVIDENCE (TOWN OF), RI 02911

SBA Loan Lender

COASTWAY CU
25 LOVELL AVE
CRANSTON, RI 02920

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

10/23/2006

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 only one employee. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Coastway Cu had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Coastway Cu made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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