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November 22, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Middletown, Business Loans > Banknewport Middletown Business Loans > Computers, Peripherals, And Software Loan | ||||
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SBA Loans from Banknewport
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Providence, Rhode Island Business Gets SBA-Guaranteed Funding from BanknewportBanknewport has a track record as a leading provider of SBA loans. Find out how this Rhode Island entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Providence, Rhode Island was able to borrow $362,908 from Banknewport. The SBA made the loan possible by guaranteeing $272,181 of this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTERS, PERIPHERALS, AND SOFTWARE SBA Loan Lender BANKNEWPORT SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5045 - Computers, Peripherals, and Software NAICS Code 541512 - Computer Systems Design Services Loan Approval Date 9/29/2005 Loan Approval Gross Amount $362,908 Loan Approval from the SBA Of the total $362,908 loan amount, the SBA guaranteed $272,181. 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 24 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Banknewport had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Banknewport 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. Related Links: Family and Friend Investors - Your First Financiers Where to Get an SBA Loan in Middletown, Rhode Island
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