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December 25, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Providence, Business Loans > Rbs Citizens Providence Business Loans > Used Car Dealers Loan | ||||
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Westboro (rr Name For Westboro, Massachusetts Bank Loan
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Used Car Dealers LoansWith these loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $35,000 was given to a Massachusetts entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Westboro (rr Name For Westboro, Massachusetts was able to borrow $35,000 from Rbs Citizens. The SBA made the loan possible by guaranteeing $17,500 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender RBS CITIZENS This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 441120 - Used Car Dealers Loan Approval Date 9/24/2003 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Rbs Citizens that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Obtaining Funding From a Venture Capitalist Best Providence, Rhode Island Banks for Small Business
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