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December 22, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Waterbury, Business Loans > Webster Bank Waterbury Business Loans > Business Service Centers Loan | ||||
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Getting an SBA Loan in Warwick, Rhode Island
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Local Business Gets a Rhode Island Small Business LoanRhode IslandBusiness loans are available to Rhode Island business owners through the SBA. In this case, a Connecticut bank provides the loan. This small business, based in Warwick, Rhode Island, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Webster Bank. We've got the inside scoop on this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: BUSINESS SERVICE CENTERS SBA Loan Lender WEBSTER BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561439 - Business Service Centers Loan Approval Date 9/28/2006 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Best Waterbury, Connecticut Banks for Small Business
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