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January 21, 2025 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Cranston, Business Loans > Coastway Cu Cranston Business Loans > Durable Goods Merchant Wholesalers Loan | ||||
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Tips for Entrepreneurs On Getting a Loan
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Business Loans for Durable Goods Merchant WholesalersWith these business loans for durable goods merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This durable goods merchant wholesalers loan for $329,500 was given to a Rhode Island entrepreneur in 2006. Getting a small business loan in Warwick (rr Name Apponaug), Rhode Island was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Coastway Cu, operating out of Cranston, Rhode Island. Here are the details on this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: DURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender COASTWAY CU 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 423990 - Durable Goods Merchant Wholesalers Loan Approval Date 3/23/2006 Loan Approval Gross Amount $329,500 Loan Approval from the SBA Of the total $329,500 loan amount, the SBA guaranteed $247,125. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $329,500 loan. Remember, feel the fear, and do it anyway. 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: Role of Business Plan When Raising Money SBA Approved Banks in Cranston, Rhode Island Where to Get an SBA Loan Rhode Island
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