Washington Tr Co - Westerly Provides SBA Loan to Buy Sylvan Learning Center Franchise

Need money to invest in a Sylvan Learning Center franchise? Washington Tr Co - Westerly has a history of making these loans and they are guaranteed by the SBA.

If you live near Groton, Connecticut and are interested in buying a Sylvan Learning Center franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Washington Tr Co - Westerly. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

OCEAN STATE LEARNING SYSTEMS,
GROTON, CT 06340

SBA Loan Lender

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

This commercial 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

611699 - Schools and Instruction

Loan Approval Date

3/28/2005

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $35,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sylvan Learning Center franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 10 existing jobs.

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

If you are wondering how to raise money for a company in Groton CT, you ought to talk with a local Groton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Groton businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Washington Tr Co - Westerly and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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