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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 > Hobby, Toy, And Game Shops Loan | ||||
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Coastway Cu
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N. Kingstown, 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 N. Kingstown, Rhode Island business owner got a $150,000 loan. This growing company knew how to go about getting a business bank loan. Based in N. Kingstown, Rhode Island, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Coastway Cu, based in Cranston, Rhode Island. SBA Loan Borrower COMPANY TYPE: HOBBY, TOY, AND GAME SHOPS SBA Loan Lender COASTWAY CU SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5945 - Hobby, Toy, and Game Shops NAICS Code 451120 - Hobby, Toy, and Game Stores Loan Approval Date 3/8/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Coastway Cu and they will explain how you can get an SBA loan for your company. 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: Good Banks for Small Business in Cranston, Rhode Island Getting an SBA Loan in Rhode Island
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