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April 30, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Fall River, Business Loans > Bankfive Fall River Business Loans > Full-Service Restaurants Loan | ||||
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Bankfive SBA Loan
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Bankfive SBA Loan to Full-Service Restaurants CompanyAn SBA loan from Bankfive typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Tiverton, Rhode Island business owner got a $35,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tiverton, Rhode Island was able to borrow $35,000 from Bankfive. The SBA made the loan possible by guaranteeing $17,500 of this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender BANKFIVE This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 722110 - Full-Service Restaurants Loan Approval Date 11/2/2005 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 9 employees. The SBA loan application for the borrower indicated that the loan would help generate 9 new jobs and retain 9 existing jobs. 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bankfive and they will explain how you can get an SBA loan for your company. 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 Fall River, Massachusetts Where to Get an SBA Loan Massachusetts
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