Local Business Gets a Rhode Island SBA Loan

Would a Rhode Island business loan help your company expand? If so, you may want to talk with this Rhode Island bank, which offers SBA loans to Rhode Island entrepreneurs.

Getting a small business loan in Providence, Rhode Island was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Minority Invest Devel Corp.. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: BUILDING CLEANING AND MAINTENANCE SERVICES, N.E.C
PROVIDENCE, RI 02903

SBA Loan Lender

MINORITY INVEST DEVEL CORP.
216 WEYBOSSET ST., STE. 2
PROVIDENCE, RI 02903

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7349 - Building Cleaning and Maintenance Services, N.E.C

Loan Approval Date

7/26/2000

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $24,000.

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 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

The Friends and Family Network

Banks in Providence, Rhode Island

Rhode Island SBA 7A Banks