Rhode Island Entrepreneur Secures Financing to Buy Ronzio Franchise

Borrowing money to buy a Ronzio franchise? Coastway Cu has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Ronzio franchise may simply require a phone call to a local SBA banker. In 2003, Coastway Cu issued an SBA franchise loan to an entrepreneur in N. Providence, Rhode Island. Because Ronzio was registered with the SBA's registry of franchises, this Rhode Island small business loan was issued on an expedited basis.

SBA Loan Borrower

RONZIO PIZZA & SUBS
N. PROVIDENCE, RI 02904

SBA Loan Lender

COASTWAY CU
25 LOVELL AVE
CRANSTON, RI 02920

This commercial loan 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

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/5/2003

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Ronzio franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Coastway Cu had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Coastway Cu made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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