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April 27, 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 > Courier Services Loan | ||||
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I Need an SBA 7A Loan in Providence, Rhode Island
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Commercial Loans for Local Messengers and Local DeliveryLooking for commercial loans for local messengers and local delivery? The SBA may be the answer. This $75,000 local messengers and local delivery loan was issued by a Rhode Island bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Providence, Rhode Island was able to borrow $75,000 from Independence Bank. The SBA made the loan possible by guaranteeing $63,750 of this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: COURIER SERVICES SBA Loan Lender INDEPENDENCE BANK This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4215 - Courier Services NAICS Code 492210 - Local Messengers and Local Delivery Loan Approval Date 8/15/2001 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 10 employees. The loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Obtaining Funding - How to Decide How Much to Raise SBA Approved Banks in East Greenwich, Rhode Island
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