Rhode Island Business Loan Issued to Finfish Company

SBA loans in Rhode Island are hard to find these days. We take a look at one Rhode Island SBA loan, provided by a Rhode Island bank, that was approved by the SBA.

Getting a small business loan in Tiverton, Rhode Island was a top priority for this particular business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: FINFISH
TIVERTON, RI 02876

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0912 - Finfish

NAICS Code

114111 - Finfish Fishing

Loan Approval Date

4/24/2001

Loan Approval Gross Amount

$368,000

Loan Approval from the SBA

Of the total $368,000 loan amount, the SBA guaranteed $276,000.

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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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