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December 22, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Bank Rhode Island Providence Business Loans > Excavation Contractors Loan | ||||
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SBA 7A Banks in Rhode Island
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Raising Money for Excavation ContractorsLooking for bank loans for excavation contractors? Try the SBA. This $250,000 excavation contractors loan was issued by a Rhode Island bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Providence, Rhode Island was able to borrow $250,000 from Bank Rhode Island. The SBA made the loan possible by guaranteeing $125,000 of this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: EXCAVATION CONTRACTORS SBA Loan Lender BANK RHODE ISLAND 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 235930 - Excavation Contractors Loan Approval Date 4/28/2003 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 20 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 22 existing jobs. Start the Process for Getting an SBA Loan Today! If you are wondering how to raise money for a business in Providence RI, you ought to talk with a local Providence SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Providence businesses. We can help you find the best banks for small businesses in Providence 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: SBA 7A Banks in Providence, Rhode Island
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