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April 28, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Providence, Business Loans > Rbs Citizens Providence Business Loans > Payroll Services Loan | ||||
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Massachusetts Small Business Funding
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Payroll Services Small Business LoansLooking for small business loans for payroll services? The SBA may be the answer. This $11,800 payroll services loan was issued by a Rhode Island bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Beverly, Massachusetts was able to borrow $11,800 from Rbs Citizens. The SBA made the loan possible by guaranteeing $5,900 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: PAYROLL SERVICES SBA Loan Lender RBS CITIZENS This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 541214 - Payroll Services Loan Approval Date 7/12/2006 Loan Approval Gross Amount $11,800 Loan Approval from the SBA Of the total $11,800 loan amount, the SBA guaranteed $5,900. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 $11,800 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. Related Links: SBA 7A Banks in Providence, Rhode Island
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