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May 4, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Business Development Company Providence Business Loans > Electrical Work Loan | ||||
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Business Development Company
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Smithfield, Rhode Island Business Gets SBA-Guaranteed Funding from Business Development CompanyAn SBA loan from Business Development Company 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 $100,000 loan. This business knew how to go about getting a business bank loan. Based in Smithfield, Rhode Island, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Business Development Company, based in Providence, Rhode Island. SBA Loan Borrower COMPANY TYPE: ELECTRICAL WORK SBA Loan Lender BUSINESS DEVELOPMENT COMPANY This SBA small business 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 1731 - Electrical Work NAICS Code 235310 - Electrical Contractors Loan Approval Date 9/7/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $75,000. 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 20 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan If you are raising money in Smithfield RI, you ought to talk with a local Smithfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Smithfield businesses. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Best Banks for Small Business in Providence, Rhode Island
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