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November 15, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Westerly, Business Loans > Westerly Community Cu Westerly Business Loans > Solid Waste Collection Loan | ||||
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SBA Lenders in Exeter, Rhode Island
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Exeter, Rhode Island Business Gets SBA-Guaranteed Funding from Westerly Community CuWesterly Community Cu and the SBA work together to get business loans for growing small businesses. Here's an example of how a Rhode Island entrepreneur was able to get a loan to take a small business to the next level. This business knew how to go about getting a business bank loan. Based in Exeter, Rhode Island, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Westerly Community Cu, based in Westerly, Rhode Island. SBA Loan Borrower COMPANY TYPE: SOLID WASTE COLLECTION SBA Loan Lender WESTERLY COMMUNITY CU This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 562111 - Solid Waste Collection Loan Approval Date 8/3/2005 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. 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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. 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 $40,000 loan. Remember, if it to be, it is up to me! 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: Banking Deregulation's Effects on Entrepreneurship SBA 7A Lenders in Westerly, Rhode Island
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