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November 15, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Newport, Business Loans > Banknewport Newport Business Loans > Residential Remodelers Loan | ||||
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Business Loans for Tiverton Business Owners
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Borrowing Money for Residential RemodelersLooking for loans for residential remodelers? Try the SBA. This $125,000 residential remodelers loan was issued by a Rhode Island bank. This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Banknewport, out of Newport, Rhode Island. The loan was granted and they received $125,000 to help grow their Tiverton, Rhode Island business. SBA Loan Borrower COMPANY TYPE: RESIDENTIAL REMODELERS SBA Loan Lender BANKNEWPORT This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 236118 - Residential Remodelers Loan Approval Date 9/8/2006 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $62,500. 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 6 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must 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 $125,000. How would you spend $125,000 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. Related Links: SBA 7A Banks for Newport, Rhode Island Loans
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