Lessors of Nonresidential Buildings Small Business Loans

Looking for small business loans for lessors of nonresidential buildings? The SBA may be the answer. This $576,000 lessors of nonresidential buildings loan was issued by a Rhode Island bank.

This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Coastway Cu, out of Cranston, Rhode Island. The loan was granted and they received $576,000 to help grow their Newport, Rhode Island business.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS
NEWPORT, RI 02840

SBA Loan Lender

COASTWAY CU
25 LOVELL AVE
CRANSTON, RI 02920

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531120 - Lessors of Nonresidential Buildings

Loan Approval Date

3/29/2005

Loan Approval Gross Amount

$576,000

Loan Approval from the SBA

Of the total $576,000 loan amount, the SBA guaranteed $432,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Coastway Cu that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Accountant's Role in Securing Financing

SBA Banks in Cranston, Rhode Island

SBA Participating Banks in Rhode Island