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May 8, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Providence, Business Loans > Rbs Citizens Providence Business Loans > Dairy Products Stores Loan | ||||
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Canal Fulton, Ohio Bank Loan
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Specialty Food Stores Bank LoansLooking for bank loans for specialty food stores? Talk to a banker who works with the SBA. This $100,000 specialty food stores loan was issued by a Rhode Island bank. This small firm knew how to go about getting a business bank loan. Based in Canal Fulton, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Rbs Citizens, based in Providence, Rhode Island. SBA Loan Borrower COMPANY TYPE: DAIRY PRODUCTS STORES SBA Loan Lender RBS CITIZENS This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5451 - Dairy Products Stores NAICS Code 445299 - Specialty Food Stores Loan Approval Date 11/15/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. 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: SBA 7A Lenders in Providence, Rhode Island Getting an SBA Loan in Rhode Island
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