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April 18, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Ronzio Pizza Loan | ||||
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Raising Money in Coventry (washington), Rhode Island With SBA Loans
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Coventry (washington), RI Entrepreneur Gets SBA Loan to Buy Ronzio FranchiseNeed money to buy a Ronzio franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Coventry (washington), Rhode Island needed money to invest in a Ronzio franchise back in 2002. Bank Of America issued an SBA franchise loan. Here are the details on this Rhode Island small business loan. SBA Loan Borrower RONZIO PIZZA SBA Loan Lender BANK OF AMERICA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/30/2002 Loan Approval Gross Amount $65,000 Loan Approval from the SBA Of the total $65,000 loan amount, the SBA guaranteed $32,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Ronzio franchise. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 10 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Obtaining Funding - Getting Venture Capital Small Business Banks in Providence, Rhode Island
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