Loan to Buy Ktu Worldwide Franchise Issued By Coastway Cu

Borrowing money to purchase a Ktu Worldwide franchise? Coastway Cu has a history of making these loans and they are guaranteed by the SBA.

If you live near W. Kingston, Rhode Island and are interested in buying a Ktu Worldwide franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Coastway Cu. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

KITCHEN TUNE UP
W. KINGSTON, RI 02892

SBA Loan Lender

COASTWAY CU
25 LOVELL AVE
CRANSTON, RI 02920

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5211 - Lumber and Other Building Materials Dealer

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

4/2/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Ktu Worldwide franchise. 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 funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Coastway Cu that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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 Incubators

SBA Approved Banks in Cranston, Rhode Island

Rhode Island SBA 7A Lenders