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May 11, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > New Multifamily Housing Construction Loan | ||||
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Smithfield SBA Loans
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Smithfield, Rhode Island Entrepreneur Gets an SBA LoanSBA loans in Rhode Island are tough to come by these days. We take a look at one Rhode Island SBA loan, provided by a Virginia bank, that was approved by the SBA. This company, based in Smithfield, Rhode Island, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Capital One. We've got the inside scoop on this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: NEW MULTIFAMILY HOUSING CONSTRUCTION SBA Loan Lender CAPITAL ONE 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 236116 - New Multifamily Housing Construction Loan Approval Date 11/8/2007 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job. Next Steps for Getting an SBA Loan If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: A Company That Helps Entrepreneurs Find an SBA Lender in Virginia
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