Limousine Service Bank Loans

With these bank loans for limousine service, the SBA guarantees the lender that the loan will be repaid. This limousine service loan for $100,000 was given to a Rhode Island entrepreneur in 2004.

Getting a small business loan in Portsmouth, Rhode Island was important for this growing firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bankfive, operating out of Fall River, Massachusetts. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMOUSINE SERVICE
PORTSMOUTH, RI 02871

SBA Loan Lender

BANKFIVE
79 N MAIN ST
FALL RIVER, MA 02720

The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

485320 - Limousine Service

Loan Approval Date

6/28/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

We can help you find the best banks for small businesses in Portsmouth or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

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Best Fall River, Massachusetts Banks for Small Business

Getting an SBA Loan in Massachusetts