Small Business Loans for Durable Goods Merchant Wholesalers

With these small business loans for durable goods merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This durable goods merchant wholesalers loan for $5,000 was given to a Rhode Island entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in North Providence, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Rbs Citizens, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: DURABLE GOODS MERCHANT WHOLESALERS
NORTH PROVIDENCE, RI 02896

SBA Loan Lender

RBS CITIZENS
ONE CITIZENS PLAZA
PROVIDENCE, RI 02903

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

423990 - Durable Goods Merchant Wholesalers

Loan Approval Date

3/14/2003

Loan Approval Gross Amount

$5,000

Loan Approval from the SBA

Of the total $5,000 loan amount, the SBA guaranteed $2,500.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $5,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Understanding Dilution

SBA Participating Banks in Providence, Rhode Island

SBA Rhode Island Lenders