Firm Gets a Rhode Island Business Loan

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

By giving the right information to Ups Capital Business Credit, this Providence, 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: MANUFACTURING INDUSTRIES
PROVIDENCE, RI 02905

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
425 DAY HILL RD
WINDSOR, CT 06095

When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program is designed to offer rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3999 - Manufacturing Industries

Loan Approval Date

5/1/2000

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

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 21 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you want money for new small business in Providence RI, you ought to talk with a local Providence SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Providence businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Ups Capital Business Credit had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Ups Capital Business Credit 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.

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