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May 3, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Minority Invest Devel Corp. Providence Business Loans > Industrial And Personal Service Paper Loan | ||||
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Providence, Rhode Island SBA 7A Banks
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Providence, Rhode Island Lender Lends Money to Industrial And Personal Service Paper CompanyThinking about meeting with a Providence, Rhode Island bank about an SBA loan? Here's one Rhode Island business loan, issued by a Providence bank, that was approved by the SBA. Applying for an SBA loan with Minority Invest Devel Corp. worked out well for our friends at one local company in Cranston, Rhode Island. The business was able to get an SBA loan for $175,000. Way to go! SBA Loan Borrower COMPANY TYPE: INDUSTRIAL AND PERSONAL SERVICE PAPER SBA Loan Lender MINORITY INVEST DEVEL CORP. This commercial 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 5113 - Industrial and Personal Service Paper NAICS Code 422990 - Nondurable Goods Wholesalers Loan Approval Date 1/24/2003 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. 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 15 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. While you may be able to find business people willing to loan money, 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: Good Banks for Small Business in Providence, Rhode Island
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