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May 2, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Full-Service Restaurants Loan | ||||
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Independence Bank Business Loans
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Borrowing Money for Full-Service RestaurantsLooking for loans for full-service restaurants? Talk to a banker who works with the SBA. This $600,000 full-service restaurants loan was issued by a Rhode Island bank. This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Independence Bank, out of East Greenwich, Rhode Island. The loan was granted and they received $600,000 to help grow their Narragansett (census Name Narr, Rhode Island business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender INDEPENDENCE BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 5/17/2002 Loan Approval Gross Amount $600,000 Loan Approval from the SBA Of the total $600,000 loan amount, the SBA guaranteed $450,000. 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 32 employees. The SBA loan documents indicated that the loan would help retain 32 existing jobs. Next Steps for Getting an SBA Loan If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source This SBA loan was for $600,000. How would you spend $600,000 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: How Much Venture Capital Is There? Where to Get an SBA Loan in East Greenwich, Rhode Island
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