Commercial Loans for Lessors of Real Estate Property

Looking for commercial loans for lessors of real estate property? The SBA may be the answer. This $627,000 lessors of real estate property loan was issued by a Rhode Island bank.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Coastway Cu, out of Cranston, Rhode Island. The loan was granted and they received $627,000 to help grow their Tiverton, Rhode Island business.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF REAL ESTATE PROPERTY
TIVERTON, RI 02878

SBA Loan Lender

COASTWAY CU
25 LOVELL AVE
CRANSTON, RI 02920

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531190 - Lessors of Real Estate Property

Loan Approval Date

7/28/2004

Loan Approval Gross Amount

$627,000

Loan Approval from the SBA

Of the total $627,000 loan amount, the SBA guaranteed $470,250.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Coastway Cu 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:

Business Cash Advances

SBA 7A Banks for Cranston, Rhode Island Loans

SBA Rhode Island Banks