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April 28, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Fall River, Business Loans > Bank - Fall River A Co-Operati Fall River Business Loans > Eating Places Loan | ||||
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I Need a Business Loan in Providence, Rhode Island
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Limited-Service Restaurants Small Business LoansLooking for small business loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $240,000 limited-service restaurants loan was issued by a Massachusetts bank. This company knew how to go about getting a business bank loan. Based in Providence, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Bank - Fall River A Co-Operati, based in Fall River, Massachusetts. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender BANK - FALL RIVER A CO-OPERATI This SBA 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 NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 4/8/2003 Loan Approval Gross Amount $240,000 Loan Approval from the SBA Of the total $240,000 loan amount, the SBA guaranteed $180,000. 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 3 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank - Fall River A Co-Operati had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank - Fall River A Co-Operati made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding From a Venture Capitalist SBA 7A Banks for Fall River, Massachusetts Loans
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