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May 5, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Cranston, Business Loans > Domestic Bank Cranston Business Loans > Eating Places Loan | ||||
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Rhode Island Bank SBA Loans
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Domestic Bank SBA Loan to Eating Places CompanyLooking to get a Rhode Island business loan? Here's one Rhode Island business loan that was approved by the SBA. This growing firm needed an SBA business loan in Kingston, Rhode Island back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Domestic Bank, operating out of Cranston, Rhode Island. Here are the details on this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender DOMESTIC BANK This business 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 5812 - Eating Places Loan Approval Date 8/15/2000 Loan Approval Gross Amount $99,000 Loan Approval from the SBA Of the total $99,000 loan amount, the SBA guaranteed $79,200. 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 loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $99,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Participating Banks in Cranston, Rhode Island
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