SBA Loan from Textron Business Credit, Inc. Helps Full-Service Restaurants Company

An SBA loan from Textron Business Credit, Inc. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Providence, Rhode Island business owner got a $1,100,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Providence, Rhode Island, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Textron Business Credit, Inc., based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PROVIDENCE, RI 02903

SBA Loan Lender

TEXTRON BUSINESS CREDIT, INC.
40 WESTMINISTER ST
PROVIDENCE, RI 02903

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/29/2001

Loan Approval Gross Amount

$1,100,000

Loan Approval from the SBA

Of the total $1,100,000 loan amount, the SBA guaranteed $825,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 40 employees. The loan application indicated that the loan would help generate 40 new jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Textron Business Credit, Inc. are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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