Loan Census Banking News and Information
February 1, 2023  
  Business Loan Information  

Rhode Island Small Business Funding for Franchises


Loan Census SBA Loan Info

Warwick (rr Name Apponaug), RI Entrepreneur Gets SBA Loan to Buy East Coast Baseball & Athletic Devel Franchise

Need money to purchase an East Coast Baseball & Athletic Devel franchise? Sovereign Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an East Coast Baseball & Athletic Devel franchise? If so, here's a 2004 SBA franchise loan that you should know about. Sovereign Bank was the lender and the entrepreneur was based in Warwick (rr Name Apponaug), Rhode Island.

SBA Loan Borrower


SBA Loan Lender


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.


721214 - Recreational and Vacation Camps

Loan Approval Date


Loan Approval Gross Amount


Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an East Coast Baseball & Athletic Devel franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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 news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. 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.

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