Providence, Rhode Island Entrepreneur Gets a Business Loan

Looking to get a Rhode Island SBA loan? This Rhode Island entrepreneur got an SBA loan, provided by a Connecticut 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 Ups Capital Business Credit. We've got the inside scoop on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: METAL COATING, ENGRAVING AND ALLIED SERVICES
PROVIDENCE, RI 02905

SBA Loan Lender

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

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.

NAICS Code

332812 - Metal Coating, Engraving and Allied Services

Loan Approval Date

5/30/2001

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 32 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 32 existing jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Ups Capital Business Credit are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

Getting a Small Business Loan

SBA Banks in Windsor, Connecticut

Connecticut SBA 7A Banks