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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 > Florists Loan | ||||
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How to Get SBA Loans from Minority Invest Devel Corp.
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Johnston, Rhode Island Business Gets SBA-Guaranteed Funding from Minority Invest Devel Corp.An SBA loan from Minority Invest Devel Corp. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Johnston, Rhode Island business owner got a $50,000 loan. This small firm knew how to go about getting a business bank loan. Based in Johnston, Rhode Island, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Minority Invest Devel Corp., based in Providence, Rhode Island. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender MINORITY INVEST DEVEL CORP. This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5992 - Florists NAICS Code 453110 - Florists Loan Approval Date 2/11/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 only one employee. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees. 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Minority Invest Devel Corp. and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 in Providence, Rhode Island Where to Get an SBA Loan Rhode Island
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