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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 > Manufacturing Loan | ||||
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Tips for Business Owners On Getting a Loan
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Commercial Loans for ManufacturingWith these commercial loans for manufacturing, the SBA guarantees the lender that the loan will be repaid. This manufacturing loan for $827,000 was given to a Rhode Island entrepreneur in 2005. This small business knew how to go about getting a business bank loan. Based in Pawtucket, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Coastway Cu, based in Cranston, Rhode Island. SBA Loan Borrower COMPANY TYPE: MANUFACTURING SBA Loan Lender COASTWAY CU This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339999 - Manufacturing Loan Approval Date 6/15/2005 Loan Approval Gross Amount $827,000 Loan Approval from the SBA Of the total $827,000 loan amount, the SBA guaranteed $620,250. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 15 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This SBA loan was for $827,000. How would you spend $827,000 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: Small Bank Loans in Cranston, Rhode Island
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