Entrepreneur Works With Westerly, Rhode Island Bank to Get an SBA Loan

Get to know Westerly, Rhode Island banks that specialize in business loans and know how to work with entrepreneurs. Washington Tr Co - Westerly is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Cranston, Rhode Island starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Washington Tr Co - Westerly. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL
CRANSTON, RI 02920

SBA Loan Lender

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

This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

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

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

5/9/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Direct Public Offerings

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SBA Rhode Island Banks