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May 2, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Bank Rhode Island Providence Business Loans > Elementary And Secondary Schools Loan | ||||
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Bank Rhode Island Warwick, Rhode Island
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Warwick, Rhode Island Business Gets SBA-Guaranteed Funding from Bank Rhode IslandBank Rhode Island is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Rhode Island entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Warwick, Rhode Island was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bank Rhode Island, operating out of Providence, Rhode Island. Here are the details on this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: ELEMENTARY AND SECONDARY SCHOOLS SBA Loan Lender BANK RHODE ISLAND The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8211 - Elementary and Secondary Schools NAICS Code 611110 - Elementary and Secondary Schools Loan Approval Date 1/16/2004 Loan Approval Gross Amount $225,000 Loan Approval from the SBA Of the total $225,000 loan amount, the SBA guaranteed $168,750. 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 11 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you are wondering how to raise money for a business in Warwick RI, you ought to talk with a local Warwick SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Warwick businesses. This SBA loan was for $225,000. How would you spend $225,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 Providence, Rhode Island
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