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April 29, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Hartford, Business Loans > Business Lenders, LLC Hartford Business Loans > Hotels And Motels Loan | ||||
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SBA 7A Banks for Westerly Businesses
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Westerly, Rhode Island Entrepreneur Gets an SBA LoanWant a Rhode Island business loan? This Rhode Island entrepreneur got a business loan, provided by a Connecticut bank that works with the SBA to help small business owners. Getting a small business loan in Westerly, Rhode Island was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Business Lenders, LLC. Here are the details on this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender BUSINESS LENDERS, LLC This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels NAICS Code 721110 - Hotels and Motels Loan Approval Date 8/10/2004 Loan Approval Gross Amount $591,000 Loan Approval from the SBA Of the total $591,000 loan amount, the SBA guaranteed $443,250. 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 4 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Advice on Getting a Small Business Loan Who Lends Money to Small Businesses in Hartford, Connecticut
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