Textron Financial Corp SBA Loan to Eating Places Company

Looking to get a Rhode Island business loan? Here's one Rhode Island business loan that was approved by the SBA.

This up and coming company knew how to go about getting a business bank loan. Based in Warwick, Rhode Island, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Textron Financial Corp, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WARWICK, RI 02886

SBA Loan Lender

TEXTRON FINANCIAL CORP
40 WESMINSTER ST
PROVIDENCE, RI 02903

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

6/27/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

We can help you find the best banks for small businesses in Warwick or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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