Coastway Cu Gives Small Business Loan to Lessors Of Nonresidential Buildings Company

Searching for a Rhode Island small business loan? This Rhode Island entrepreneur got a small business loan, provided by a Rhode Island bank that works with the SBA to help small business owners.

By giving the right information to Coastway Cu, this Portsmouth, Rhode Island business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS
PORTSMOUTH, RI 02871

SBA Loan Lender

COASTWAY CU
25 LOVELL AVE
CRANSTON, RI 02920

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531120 - Lessors of Nonresidential Buildings

Loan Approval Date

6/12/2006

Loan Approval Gross Amount

$1,246,000

Loan Approval from the SBA

Of the total $1,246,000 loan amount, the SBA guaranteed $934,500.

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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $1,246,000. How would you spend $1,246,000 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.

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