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May 1, 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 > Office Equipment Loan | ||||
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SBA Lenders for Riverside Small Business Owners
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Business Loans for Office Equipment WholesalersLooking for business loans for office equipment wholesalers? Talk to a banker who works with the SBA. This $365,000 office equipment wholesalers loan was issued by a Rhode Island bank. This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Independence Bank, out of East Greenwich, Rhode Island. The loan was granted and they received $365,000 to help grow their Riverside, Rhode Island business. SBA Loan Borrower COMPANY TYPE: OFFICE EQUIPMENT SBA Loan Lender INDEPENDENCE BANK This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5044 - Office Equipment NAICS Code 421420 - Office Equipment Wholesalers Loan Approval Date 4/2/2004 Loan Approval Gross Amount $365,000 Loan Approval from the SBA Of the total $365,000 loan amount, the SBA guaranteed $273,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Independence Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Independence Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Banks in East Greenwich, Rhode Island
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