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May 16, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Cranston, Business Loans > Coastway Cu Cranston Business Loans > Lessors Of Nonresidential Buildings Loan | ||||
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How to Get a Small Business Loan from Coastway Cu
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Johnston (town Of), Rhode Island Business Gets SBA-Guaranteed Funding from Coastway CuAn SBA loan from Coastway Cu typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Johnston (town Of), Rhode Island business owner got a $300,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Johnston (town Of), Rhode Island was able to borrow $300,000 from Coastway Cu. The SBA made the loan possible by guaranteeing $225,000 of this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS SBA Loan Lender COASTWAY CU 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 531120 - Lessors of Nonresidential Buildings Loan Approval Date 1/7/2005 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 24 new jobs and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. This SBA loan was for $300,000. How would you spend $300,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best Banks for Small Business in Cranston, Rhode Island
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