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April 30, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Bank Rhode Island Providence Business Loans > Schools And Instruction Loan | ||||
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SBA Lenders Rhode Island
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Providence, Rhode Island Bank Gives SBA Loan to Schools And Instruction CompanyThinking about meeting with a Providence, Rhode Island bank about an SBA loan? Here's one Rhode Island business loan, issued by a Providence bank, that was approved by the SBA. Applying for an SBA loan with Bank Rhode Island worked out well for our friends at one local firm in Providence, Rhode Island. The business was able to get an SBA loan for $35,000. Awesome! SBA Loan Borrower COMPANY TYPE: SCHOOLS AND INSTRUCTION SBA Loan Lender BANK RHODE ISLAND This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 611699 - Schools and Instruction Loan Approval Date 10/10/2001 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. 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 3 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Rhode Island and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: The Friends and Family Network SBA 7A Banks for Providence, Rhode Island Loans
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