Providence, Rhode Island Entrepreneur Gets a Business Loan

Bank loans in Rhode Island are tough to come by these days. We take a look at one Rhode Island bank loan, provided by a Rhode Island bank, that was approved by the SBA.

Getting a small business loan in Providence, Rhode Island was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PROVIDENCE, RI 02919

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

3/23/2000

Loan Approval Gross Amount

$678,000

Loan Approval from the SBA

Of the total $678,000 loan amount, the SBA guaranteed $508,500.

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 25 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 30 existing jobs.

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of America and they will explain how you can get an SBA loan for your company.

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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