Please join us as Independence Bank President Robert Catanzaro discusses their small business loan program specifically geared to your small business needs. Additional information on this exciting program is below.
Independence Bank’s Cool Cash Connect small business loans range from $5,000 to $150,000 in working capital and are guaranteed by the SBA. These ten year loans have a 6.25% interest rate based on the current variable rate. Applicants must have a minimum credit score of 640 and been in business for two years. One of Independence Bank’s first loans was for $5000 to a day care provider in Central Falls, RI. Customers now include such businesses as Foolproof Brewing Co in Pawtucket, Narragansett Creamery in Providence, and Clemente’s Wood Fired Pizzeria Trolley, formerly of Westerly, now located in Key West, Florida. By applying online, customers can prequalify in as little as 24-48 hours with funding available in as little as ten days. Information can be found on www.coolcashconnect.com.