Providence, Rhode Island Lender Lends Money to Gift, Novelty, And Souvenir Shops Company

Get to know Providence, Rhode Island banks that specialize in small business loans and know how to work with entrepreneurs. Textron Business Credit, Inc. is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Providence, Rhode Island starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Textron Business Credit, Inc.. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
PROVIDENCE, RI 02908

SBA Loan Lender

TEXTRON BUSINESS CREDIT, INC.
40 WESTMINISTER ST
PROVIDENCE, RI 02903

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.

SIC Code

5947 - Gift, Novelty, and Souvenir Shops

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

5/15/2000

Loan Approval Gross Amount

$37,600

Loan Approval from the SBA

Of the total $37,600 loan amount, the SBA guaranteed $30,080.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

The Art of Bootstrapping

SBA Participating Banks in Providence, Rhode Island

Rhode Island SBA 7A Lenders