Business Loan from Washington Tr Co - Westerly Given to Eating Places Company

An SBA loan from Washington Tr Co - Westerly typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cranston, Rhode Island business owner got a $150,000 loan.

This business knew how to go about getting a business bank loan. Based in Cranston, Rhode Island, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Washington Tr Co - Westerly, based in Westerly, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
CRANSTON, RI 02920

SBA Loan Lender

WASHINGTON TR CO - WESTERLY
23 BROAD ST
WESTERLY, RI 02891

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

5812 - Eating Places

Loan Approval Date

1/26/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 48 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 50 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Washington Tr Co - Westerly are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Startup Funding Tip

Small Bank Loans in Westerly, Rhode Island

Getting an SBA Loan in Rhode Island