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December 25, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Rbs Citizens Providence Business Loans > Drycleaning And Laundry Services Loan | ||||
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Small Business Banks in Rhode Island
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Drycleaning and Laundry Services Commercial LoansLooking for commercial loans for drycleaning and laundry services? The SBA may be the answer. This $39,000 drycleaning and laundry services loan was issued by a Rhode Island bank. This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Rbs Citizens, out of Providence, Rhode Island. The loan was granted and they received $39,000 to help grow their Wakefield, Rhode Island business. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender RBS CITIZENS 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 812320 - Drycleaning and Laundry Services Loan Approval Date 12/12/2003 Loan Approval Gross Amount $39,000 Loan Approval from the SBA Of the total $39,000 loan amount, the SBA guaranteed $19,500. 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 25 employees. The SBA loan documents indicated that the loan would help retain 25 existing jobs. Getting an SBA Loan For Your Business Remember, you 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. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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. Related Links: Banks in Providence, Rhode Island
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