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May 5, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Business Development Company Providence Business Loans > Corrugated And Solid Fiber Boxes Loan | ||||
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SBA Lender Providence Rhode Island
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Business Development Company Gives Business Loan to Corrugated And Solid Fiber Boxes CompanyLooking to get 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. This company, based in Providence, Rhode Island, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Business Development Company. We've got the inside scoop on this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: CORRUGATED AND SOLID FIBER BOXES SBA Loan Lender BUSINESS DEVELOPMENT COMPANY This lender issued this SBA business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2653 - Corrugated and Solid Fiber Boxes NAICS Code 322211 - Corrugated and Solid Fiber Box Manufacturing Loan Approval Date 4/1/2005 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 23 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 Business Development Company 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: Microlending as a Small Business Funding Source Who Lends Money to Small Businesses in Providence, Rhode Island
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