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December 22, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Bank Rhode Island Providence Business Loans > General Automotive Repair Shops Loan | ||||
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Providence, Rhode Island SBA 7A Banks
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Providence, Rhode Island Lender Lends Money to General Automotive Repair Shops CompanyThinking about meeting with a Providence, Rhode Island bank about an SBA loan? Here's one Rhode Island business loan, issued by a Providence bank, that was approved by the SBA. Applying for an SBA loan with Bank Rhode Island worked out well for our friends at one local business in Woonsocket, Rhode Island. They got an SBA loan for $170,000. Awesome! SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender BANK RHODE ISLAND When it made this small business loan, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program aims to provide rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 7/20/2000 Loan Approval Gross Amount $170,000 Loan Approval from the SBA Of the total $170,000 loan amount, the SBA guaranteed $127,500. 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 only one employee. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We can help you find the best banks for small businesses in Woonsocket or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Find an SBA Lender in Providence, Rhode Island
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