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May 2, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Wyomissing, Business Loans > Sovereign Bank Wyomissing Business Loans > Motor Vehicle Supplies And New Parts Loan | ||||
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How to Get an SBA Loan in Providence, Rhode Island
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Providence, Rhode Island Entrepreneur Gets an SBA LoanBank loans in Rhode Island are hard to find these days. We take a look at one Rhode Island bank loan, provided by a Pennsylvania bank, that was approved by the SBA. You can learn something about getting a small business loan in Providence, Rhode Island by studying this loan to a local company, made back in 2006. Banks like Sovereign Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS SBA Loan Lender SOVEREIGN BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5013 - Motor Vehicle Supplies and New Parts NAICS Code 336399 - Motor Vehicle Parts Manufacturing Loan Approval Date 1/10/2006 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. 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 15 employees. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We've showcased information on this loan to let you know that businesses like yours 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: Banking Deregulation's Effects on Entrepreneurship Best Wyomissing, Pennsylvania Banks for Small Business
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