Small Business Owner Resource
The past, present, and future of SBA 7(a) lending for Rhode Island.
In 2022 there were 41 SBA lenders that approved 175 SBA 7(a) loans for projects in Rhode Island totaling $74,556,900. The average loan amount was $426,039. Borrowers from 41 cities were approved for projects in Rhode Island for 99 industries. The SBA loan approvals in 2022 represent 1,795 jobs supported or saved in Rhode Island.
There were 11 franchise branded businesses receiving 12 loan approvals for $7,673,000 with an average loan amount of $639,417.
Our forecast model projects $81 million in total Rhode Island SBA 7(a) loan approval amounts in 2023 with $5.4 million to franchise businesses.
Rhode Island Lending Data For All SBA 7(a) Loans:
Data updated through 12/31/2022. See SBADNA Data Source & Methodology for more details.
Rhode Island Lending Data For Franchise SBA 7(a) Loans Only:
Data updated through 12/31/2022. See SBADNA Data Source & Methodology for more details.
This intel is provided by SBADNA, an SBAmatch sister company.
Our SBA Lending Experts can leverage this intel with long-standing banking relationships to help you find the right loan for FREE.
