Woonsocket, Rhode Island Business Gets SBA-Guaranteed Funding from Business Development Company

Business Development Company and the SBA work together to get business loans for growing small businesses. Here's an example of how a Rhode Island entrepreneur was able to get a loan to take a small business to the next level.

This growing company knew how to go about getting a business bank loan. Based in Woonsocket, Rhode Island, they applied for and received an SBA-guaranteed loan in 2008. The lending bank was Business Development Company, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL LITHOGRAPHIC PRINTING
WOONSOCKET, RI 02895

SBA Loan Lender

BUSINESS DEVELOPMENT COMPANY
40 WESTMINSTER ST, STE 702
PROVIDENCE, RI 02903

This lender issued this bank loan under the SBA's 7A loan, 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.

NAICS Code

323110 - Commercial Lithographic Printing

Loan Approval Date

1/25/2008

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 23 employees. The SBA loan documents indicated that the loan would help retain 23 existing jobs.

Getting an SBA Loan For Your Business

If you need business start up money in Woonsocket RI, you ought to talk with a local Woonsocket SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Woonsocket businesses.

This SBA loan was for $250,000. How would you spend $250,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Direct Public Offerings

Banks in Providence, Rhode Island

Getting an SBA Loan in Rhode Island