Providence, RI Entrepreneur Gets SBA Loan to Buy Minuteman Press Franchise

Need money to invest in a Minuteman Press franchise? First Trade Union Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Providence, Rhode Island needed money to invest in a Minuteman Press franchise back in 2002. First Trade Union Bank issued an SBA franchise loan. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

MINUTEMAN PRESS OF PROVIDENCE
PROVIDENCE, RI 02903

SBA Loan Lender

FIRST TRADE UNION BANK
25 DRYDOCK AVE
BOSTON, MA 02210

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2759 - Commercial Printing

NAICS Code

323114 - Quick Printing

Loan Approval Date

6/27/2002

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Minuteman Press franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Trade Union Bank 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.

Related Links:

Minuteman Press International, Inc.

Obtaining Funding - Friends and Family

Good Banks for Small Business in Boston, Massachusetts

Massachusetts SBA 7A Lenders