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May 1, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Eating Places Loan | ||||
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I Need a Business Loan in Gold Canyon, Arizona
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Small Business Loans for Limited-Service RestaurantsLooking for small business loans for limited-service restaurants? Try the SBA. This $130,000 limited-service restaurants loan was issued by a Rhode Island bank. This company knew how to go about getting a business bank loan. Based in Gold Canyon, Arizona, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Independence Bank, based in East Greenwich, Rhode Island. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender INDEPENDENCE BANK This bank 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 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 3/24/2003 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Independence Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: Who Lends Money to Small Businesses in East Greenwich, Rhode Island Getting an SBA Loan in Rhode Island
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