E. Greenwich, Rhode Island Entrepreneur Gets a Bank Loan

Bank loans in Rhode Island are are few and far betweeen these days. We take a look at one Rhode Island bank loan, provided by a Rhode Island bank, that was approved by the SBA.

Getting a small business loan in E. Greenwich, Rhode Island was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Independence Bank. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOOR LAYING AND FLOOR CONTRACTORS
E. GREENWICH, RI 02818

SBA Loan Lender

INDEPENDENCE BANK
1370 S COUNTY TRL
EAST GREENWICH, RI 02818

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235520 - Floor Laying and Floor Contractors

Loan Approval Date

3/1/2002

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the funding would help create 4 new jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Independence Bank and they will explain how you can get an SBA loan for your company.

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:

Family and Friend Investors - Your First Financiers

Where to Get an SBA Loan in East Greenwich, Rhode Island

Rhode Island SBA Banks