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April 29, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Providence, Business Loans > Textron Business Credit, Inc. Providence Business Loans > Eating Places Loan | ||||
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Textron Business Credit, Inc.
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Textron Business Credit, Inc. SBA Loan to Eating Places CompanyTextron Business Credit, Inc. is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Massachusetts entrepreneur who tapped into the power of SBA loans. This small firm knew how to go about getting a business bank loan. Based in Somerset, Massachusetts, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Textron Business Credit, Inc., based in Providence, Rhode Island. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender TEXTRON BUSINESS CREDIT, INC. As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 6/14/2000 Loan Approval Gross Amount $327,200 Loan Approval from the SBA Of the total $327,200 loan amount, the SBA guaranteed $245,400. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The loan application indicated that the borrowed money would help create 20 new jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This company got an SBA loan. You can too! Maybe you need seed money for 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: Small Business Banks in Providence, Rhode Island
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