Providence, Rhode Island Lender Lends Money to Women's And Children's Clothing Company

Want to talk with a Providence, Rhode Island bank about a small business loan? Here's one Rhode Island business loan, issued by a Providence bank, that was approved by the SBA.

Applying for an SBA loan with Bank Rhode Island worked out well for our friends at one local firm in W. Kingston, Rhode Island. They got an SBA loan for $500,001. Great job!

SBA Loan Borrower

COMPANY TYPE: WOMEN'S AND CHILDREN'S CLOTHING
W. KINGSTON, RI 02892

SBA Loan Lender

BANK RHODE ISLAND
ONE TURKS HEAD PLACE
PROVIDENCE, RI 02903

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5137 - Women's and Children's Clothing

NAICS Code

422330 - Women's, Children's, and Infants' Clothing and Accessories Wholesalers

Loan Approval Date

6/13/2003

Loan Approval Gross Amount

$500,001

Loan Approval from the SBA

Of the total $500,001 loan amount, the SBA guaranteed $375,001.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 43 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Rhode Island and they will explain how you can get an SBA loan for your company.

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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Banks in Providence, Rhode Island

SBA Participating Banks in Rhode Island