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April 29, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Cranston, Business Loans > Coastway Cu Cranston Business Loans > Lessors Of Real Estate Property Loan | ||||
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Cranston Bank Loan
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Cranston, Rhode Island Bank Gives SBA Loan to Lessors Of Real Estate Property CompanyA Cranston, Rhode Island SBA loan can be yours. Learn how one firm got a $342,000 business loan from this Rhode Island bank. This loan to a local firm is a good example of an SBA loan. Coastway Cu 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: LESSORS OF REAL ESTATE PROPERTY SBA Loan Lender COASTWAY CU 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 531190 - Lessors of Real Estate Property Loan Approval Date 10/28/2004 Loan Approval Gross Amount $342,000 Loan Approval from the SBA Of the total $342,000 loan amount, the SBA guaranteed $256,500. 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 application for the borrower indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan If you are wondering how to raise money for a company in Pawtucket RI, you ought to talk with a local Pawtucket SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pawtucket businesses. 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 Coastway Cu 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: Best Banks in Cranston, Rhode Island
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