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November 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Cranston, Business Loans > Domestic Bank Cranston Business Loans > Eating Places Loan | ||||
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Cranston Bank Loan
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Cranston, Rhode Island Bank Gives SBA Loan to Eating Places CompanyGet business loans from a Cranston, Rhode Island bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Domestic Bank 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 Massachusetts company. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender DOMESTIC BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 5/30/2000 Loan Approval Gross Amount $236,000 Loan Approval from the SBA Of the total $236,000 loan amount, the SBA guaranteed $177,000. 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 12 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 $236,000 loan. Remember, fight for what you want, and it will be yours! 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: Banking Deregulation's Effects on Entrepreneurship SBA Banks in Cranston, Rhode Island
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