Working Capital Loan Independence Bank

Contact Us:
(401) 886-4600

Express $50,000 Loan Program!

$50,000 in Working Capital with a low current monthly payment of $626.64*

Access to Working Capital Fast and Hassle Free!

Details of Offer

Loan Size $50,000**
Pre-Payment Penalty None
Term 10 Years
Interest Rate Currently 8.75%, Variable*
Bank Processing Fee $1,500 paid from loan proceeds
 Bank Documentation Fee $350 paid from loan proceeds
Personal Guarantee (Unsecured) All 20% or more owners
 SBA Guarantee Fee  $850 paid from loan proceeds***
Industry All Eligible Small For-Profit
Businesses as defined by SBA
Equity Required None****
Security Best Available
Ownership Maximum 3 owners
Balloon Payment None
Min. Monthly Revenue  $4,000


Apply Now Independence Bank, East Greenwich, Rhode Island, Member FDIC.

*Loans have a variable rate of WSJ Prime Rate +3.75%. The current WSJ Prime Rate is 5.00% and is subject to change. The monthly payment amount is based on the current variable rate.

**Loan amounts subject to meeting program requirements.

***Beginning October 1, 2018, the SBA will be charging a guarantee fee of 2% of the guaranteed portion of the loan amount.  The fee will be paid from loan proceeds.

****At a minimum, an equity injection of 10% of the total project costs for start-up businesses is required.  A business is considered a "start-up" if it has been in operation (i.e, generating revenue from intended operations) for up to one year.

Our Business Is Small Business

Contact Us:
(401) 886-4600