Entrepreneur Works With Cranston, Rhode Island Bank to Get an SBA Loan

Get small business loans from a Cranston, Rhode Island bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Coastway Cu is a Cranston, Rhode Island small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Rhode Island company.

SBA Loan Borrower

COMPANY TYPE: PHYSICAL FITNESS FACILITIES
WARWICK, RI 02888

SBA Loan Lender

COASTWAY CU
25 LOVELL AVE
CRANSTON, RI 02920

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7991 - Physical Fitness Facilities

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

5/21/2002

Loan Approval Gross Amount

$277,000

Loan Approval from the SBA

Of the total $277,000 loan amount, the SBA guaranteed $207,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 17 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Business Credit Evaluation

Banks in Cranston, Rhode Island

Getting a Business Loan in Rhode Island