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May 21, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Providence, Business Loans > Bank Rhode Island Providence Business Loans > Computer Facilities Management Services Loan | ||||
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Illinois Small Business Loans from Bank Rhode Island
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Cranston, Illinois Business Gets SBA-Guaranteed Funding from Bank Rhode IslandBank Rhode Island has a track record as a leading provider of SBA loans. Find out how this Illinois entrepreneur received an SBA loan from them. Getting a small business loan in Cranston, Illinois was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bank Rhode Island, operating out of Providence, Rhode Island. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER FACILITIES MANAGEMENT SERVICES SBA Loan Lender BANK RHODE ISLAND This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7376 - Computer Facilities Management Services NAICS Code 541513 - Computer Facilities Management Services Loan Approval Date 3/21/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Rhode Island had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Rhode Island made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Realistic Debt Financing Options SBA Banks in Providence, Rhode Island
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