Domestic Bank Gives Business Loan to Lawn And Garden Services Company

Small business loans in Rhode Island are tough to come by these days. We take a look at one Rhode Island small business loan, provided by a Rhode Island bank, that was approved by the SBA.

Getting a small business loan in West Warwick, Rhode Island was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Domestic Bank. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: LAWN AND GARDEN SERVICES
WEST WARWICK, RI 02893

SBA Loan Lender

DOMESTIC BANK
815 RESERVOIR AVE
CRANSTON, RI 02910

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0782 - Lawn and Garden Services

NAICS Code

561730 - Landscaping Services

Loan Approval Date

9/18/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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