SBA Loan from Rbs Citizens Helps General Automotive Repair Company

Rbs Citizens has a track record as a leading provider of SBA loans. Find out how this New Hampshire entrepreneur received an SBA loan from them.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Rbs Citizens, out of Providence, Rhode Island. The loan was granted and they received $8,000 to help grow their Somersworth, New Hampshire business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
SOMERSWORTH, NH 03878

SBA Loan Lender

RBS CITIZENS
ONE CITIZENS PLAZA
PROVIDENCE, RI 02903

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

811111 - General Automotive Repair

Loan Approval Date

12/20/2004

Loan Approval Gross Amount

$8,000

Loan Approval from the SBA

Of the total $8,000 loan amount, the SBA guaranteed $4,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $8,000. How would you spend $8,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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