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December 22, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Flooring Contractors Loan | ||||
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Banks Doing SBA Loans in Rhode Island
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Entrepreneur Works With East Greenwich, Rhode Island Bank to Get an SBA LoanThinking about meeting with an East Greenwich, Rhode Island bank about an SBA loan? Here's one Rhode Island business loan, issued by an East Greenwich bank, that was approved by the SBA. Applying for an SBA loan with Independence Bank worked out well for our friends at one local company in Warwick (rr Name Apponaug), Rhode Island. They got an SBA loan for $150,000. Way to go! SBA Loan Borrower COMPANY TYPE: FLOORING CONTRACTORS SBA Loan Lender INDEPENDENCE BANK This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 238330 - Flooring Contractors Loan Approval Date 8/24/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 9 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to borrow money from friends and family, 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: SBA Participating Banks in East Greenwich, Rhode Island
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