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May 9, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Rbs Citizens Providence Business Loans > Power Laundries, Family And Commercial Loan | ||||
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Providence, Rhode Island SBA Lenders
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Providence, Rhode Island Lender Lends Money to Power Laundries, Family And Commercial CompanyA Providence, Rhode Island business loan can be yours. Learn how a business got a $200,000 business loan from this Rhode Island bank. This loan to an entrepreneur is a good example of an SBA loan. Rbs Citizens made the loan and the SBA guaranteed a portion of the loan. Many other Rhode Island entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL SBA Loan Lender RBS CITIZENS This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7211 - Power Laundries, Family and Commercial NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 11/16/2001 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Rbs Citizens and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 - Getting Venture Capital Banks in Providence, Rhode Island
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