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May 17, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Greenville, Business Loans > Freedom National Bank Greenville Business Loans > Bolts, Nuts, Screws, Rivets, And Washers Loan | ||||
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Freedom National Bank Small Business Loans Smithfield, Rhode Island
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SBA Loan from Freedom National Bank Helps Bolts, Nuts, Screws, Rivets, And Washers CompanyAn SBA loan from Freedom National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Smithfield, Rhode Island business owner got a $75,000 loan. Getting a small business loan in Smithfield, Rhode Island was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Freedom National Bank, operating out of Greenville, Rhode Island. Here are the details on this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: BOLTS, NUTS, SCREWS, RIVETS, AND WASHERS SBA Loan Lender FREEDOM NATIONAL BANK This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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 3452 - Bolts, Nuts, Screws, Rivets, and Washers NAICS Code 332722 - Bolt, Nut, Screw, Rivet, and Washer Manufacturing Loan Approval Date 5/12/2006 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $56,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $75,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 SBA 7A Banks for Greenville, Rhode Island Loans Getting a Business Loan in Rhode Island
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