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May 18, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Norwood, Business Loans > Rbs Citizens Norwood Business Loans > Health And Personal Care Stores Loan | ||||
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Norwood Lenders
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Norwood, Massachusetts Bank Lends Money to Health And Personal Care Stores Company in Smith Hill, Rhode IslandA Norwood, Massachusetts SBA loan can be yours. Learn how a company got a $5,000 business loan from this Massachusetts bank. This loan to an entrepreneur is a good example of an SBA loan. Rbs Citizens made the loan and the SBA guaranteed a portion of the loan. Many other Rhode Island entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: HEALTH AND PERSONAL CARE STORES SBA Loan Lender RBS CITIZENS 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 446199 - Health and Personal Care Stores Loan Approval Date 12/26/2002 Loan Approval Gross Amount $5,000 Loan Approval from the SBA Of the total $5,000 loan amount, the SBA guaranteed $2,500. 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 11 employees. The SBA loan documents indicated that the loan would help retain 11 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to 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. Rbs Citizens had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Rbs Citizens 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: Small Business Banks in Norwood, Massachusetts
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