Warwick, Rhode Island Business Gets SBA-Guaranteed Funding from Bank Rhode Island

An SBA loan from Bank Rhode Island typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Warwick, Rhode Island business owner got a $2,000,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Warwick, Rhode Island was able to borrow $2,000,000 from Bank Rhode Island. The SBA made the loan possible by guaranteeing $1,500,000 of this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: LITHOGRAPHIC COMMERCIAL PRINTING
WARWICK, RI 02886

SBA Loan Lender

BANK RHODE ISLAND
1 TURKS HEAD PL
PROVIDENCE, RI 02903

This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

2752 - Lithographic Commercial Printing

NAICS Code

323110 - Commercial Lithographic Printing

Loan Approval Date

7/19/2004

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 35 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't forget. To get an SBA loan, you must 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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $2,000,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

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SBA Approved Banks in Providence, Rhode Island

SBA Lenders in Rhode Island