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

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

Finding a small business loan in Deep River, Connecticut starts with an understanding of who else has gotten loans in the area. In this case, a local 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: MANUFACTURING INDUSTRIES
DEEP RIVER, CT 06417

SBA Loan Lender

WASHINGTON TR CO - WESTERLY
180 WASHINGTON ST
PROVIDENCE, RI 02903

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3999 - Manufacturing Industries

Loan Approval Date

2/28/2000

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 18 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Washington Tr Co - Westerly and they will explain how you can get an SBA loan for your company.

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.

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