Providence, RI Entrepreneur Gets SBA Loan to Buy UPS Store Franchise

Need a loan to purchase an UPS Store franchise? Business Lenders, LLC has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an UPS Store franchise may simply require a phone call to a local SBA banker. In 2006, Business Lenders, LLC issued an SBA franchise loan to an entrepreneur in Providence, Rhode Island. Because UPS Store was registered with the SBA's registry of franchises, this Rhode Island small business loan was issued on an expedited basis.

SBA Loan Borrower

THE UPS STORE #3114
PROVIDENCE, RI 02006

SBA Loan Lender

BUSINESS LENDERS, LLC
50 STATE HOUSE SQUARE 5TH FL
HARTFORD, CT 06103

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561431 - Private Mail Centers

Loan Approval Date

5/17/2006

Loan Approval Gross Amount

$247,000

Loan Approval from the SBA

Of the total $247,000 loan amount, the SBA guaranteed $185,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an UPS Store 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 2 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Business Credit Evaluation

Where to Get an SBA Loan in Hartford, Connecticut

SBA Lenders in Connecticut