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May 20, 2024 |
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| Home > Small Business Lenders by State > New Hampshire Business Loan Sources > Providence, Business Loans > Rbs Citizens Providence Business Loans > Commercial And Industrial Machinery And Equipment Loan | ||||
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Rhode Island Bank SBA Loans
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Providence, Rhode Island Bank Gives SBA Loan to Commercial And Industrial Machinery And Equipment CompanyThinking about meeting with a Providence, Rhode Island bank about an SBA loan? Here's one New Hampshire business loan, issued by a Providence bank, that was approved by the SBA. Applying for an SBA loan with Rbs Citizens worked out well for our friends at one local business in Hudson, New Hampshire. They got an SBA loan for $100,000. Way to go! SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT SBA Loan Lender RBS CITIZENS The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 811310 - Commercial and Industrial Machinery and Equipment Loan Approval Date 9/8/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 10 employees. This SBA loan request indicated that the loan would help retain 10 existing jobs. Next Steps for Getting an SBA Loan 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Rbs Citizens that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Raising VC Money for Social Networking Companies Good Banks for Small Business in Providence, Rhode Island
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