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May 1, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Gasoline Service Stations Loan | ||||
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Rhode Island SBA Banks
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East Greenwich, Rhode Island Bank Gives SBA Loan to Gasoline Service Stations CompanyWant to talk with an East Greenwich, Rhode Island bank about an SBA loan? Here's one New Jersey business loan, issued by an East Greenwich bank, that was approved by the SBA. Applying for an SBA loan with Independence Bank worked out well for our friends at one local business in Lincoln Park, New Jersey. They got an SBA loan for $850,000. Way to go! SBA Loan Borrower COMPANY TYPE: GASOLINE SERVICE STATIONS SBA Loan Lender INDEPENDENCE BANK This debt financing 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 5541 - Gasoline Service Stations NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 3/7/2005 Loan Approval Gross Amount $850,000 Loan Approval from the SBA Of the total $850,000 loan amount, the SBA guaranteed $637,500. 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 6 employees. The loan application did not indicate that the small 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 loans provide money to small business owners for working capital for other expenses. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: SBA Participating Banks in East Greenwich, Rhode Island Find an SBA Lender in Rhode Island
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