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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 > Business Development Company Providence Business Loans > Meat And Meat Product Merchant Wholesalers Loan | ||||
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Business Development Company Business Loan Warwick, Rhode Island
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Business Loan from Business Development Company Given to Meat And Meat Product Merchant Wholesalers CompanyBusiness Development Company and the SBA work together to get business loans for growing small businesses. Here's an example of how a Rhode Island entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Warwick, Rhode Island was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Business Development Company, operating out of Providence, Rhode Island. Here are the details on this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: MEAT AND MEAT PRODUCT MERCHANT WHOLESALERS SBA Loan Lender BUSINESS DEVELOPMENT COMPANY As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424470 - Meat and Meat Product Merchant Wholesalers Loan Approval Date 10/29/2003 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 48 employees. The SBA loan application for the borrower indicated that the loan would help retain 48 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Business Development Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding - How to Borrow Money SBA Participating Banks in Providence, Rhode Island
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