Providence, Rhode Island Lender Lends Money to Limited-Service Restaurants Company
Want to talk with a Providence, Rhode Island bank about a business loan? Here's one Connecticut business loan, issued by a Providence bank, that was approved by the SBA.
Applying for an SBA loan with Bank Of America worked out well for our friends at one local company in Storrs, Connecticut. The business was able to get an SBA loan for $395,000. Way to go!
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
STORRS, CT 06023
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
3/3/2004
Loan Approval Gross Amount
$395,000
Loan Approval from the SBA
Of the total $395,000 loan amount, the SBA guaranteed $296,250.
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 10 employees. The SBA loan application for the borrower indicated that the funding would help generate 10 new jobs.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $395,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Accountant's Role in Securing Financing
Small Bank Loans in Providence, Rhode Island
Getting an SBA Loan in Rhode Island