Providence, Rhode Island Bank Lends Money to Business Support Services Company in Whitinsville, Massachusetts

Thinking about meeting with a Providence, Rhode Island bank about a business loan? Here's one Massachusetts business loan, issued by a Providence bank, that was approved by the SBA.

Applying for an SBA loan with Bank Of America worked out well for our friends at one local company in Whitinsville, Massachusetts. They received an SBA loan for $87,800. Nice!

SBA Loan Borrower

COMPANY TYPE: BUSINESS SUPPORT SERVICES
WHITINSVILLE, MA 01588

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

561499 - Business Support Services

Loan Approval Date

11/19/2002

Loan Approval Gross Amount

$87,800

Loan Approval from the SBA

Of the total $87,800 loan amount, the SBA guaranteed $43,900.

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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.

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.

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 $87,800 loan. Remember, if it to be, it is up to me!

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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SBA 7A Lenders in Providence, Rhode Island

Getting an SBA Loan in Rhode Island