Loan Census Banking News and Information
October 19, 2020  
 
 
  Business Loan Information  
 

SBA Lenders Rhode Island

 

 
Loan Census SBA Loan Info

Warwick, Rhode Island Lender Lends Money to Sheet Metal Work Manufacturing Company

Want to talk with a Warwick, Rhode Island bank about a business loan? Here's one Massachusetts business loan, issued by a Warwick bank, that was approved by the SBA.

Applying for an SBA loan with Home Loan Invest Bank F.S.B. worked out well for our friends at one local company in Fairhaven, Massachusetts. The business was able to get an SBA loan for $325,000. Nice!

SBA Loan Borrower

COMPANY TYPE: SHEET METAL WORK MANUFACTURING
FAIRHAVEN, MA 02719

SBA Loan Lender

HOME LOAN INVEST BANK F.S.B.
1 HOME LOAN PLAZA, STE 3
WARWICK, RI 02886

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332322 - Sheet Metal Work Manufacturing

Loan Approval Date

11/30/2000

Loan Approval Gross Amount

$325,000

Loan Approval from the SBA

Of the total $325,000 loan amount, the SBA guaranteed $243,750.

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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This SBA loan was for $325,000. How would you spend $325,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Bank Credit Lines

Who Lends Money to Small Businesses in Warwick, Rhode Island

Getting an SBA Loan in Rhode Island