How to Get a Loan for Precision Turned Product Manufacturing

With these business loans for precision turned product manufacturing, the SBA guarantees the lender that the loan will be repaid. This precision turned product manufacturing loan for $75,000 was given to a Rhode Island entrepreneur in 2005.

This small business knew how to go about getting a business bank loan. Based in Esmond, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Washington Tr Co - Westerly, based in Westerly, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: PRECISION TURNED PRODUCT MANUFACTURING
ESMOND, RI 02917

SBA Loan Lender

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

This 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.

NAICS Code

332721 - Precision Turned Product Manufacturing

Loan Approval Date

12/28/2005

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 60 employees. The loan application indicated that the loan would help retain 60 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $75,000 loan. Remember, feel the fear, and do it anyway.

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:

Accountant's Role in Securing Financing

Who Lends Money to Small Businesses in Westerly, Rhode Island

Where to Get an SBA Loan Rhode Island