Washington Tr Co - Westerly Gives SBA Loan to General Warehousing And Storage Company

Small business loans in Rhode Island are hard to find these days. We take a look at one Rhode Island small business loan, provided by a Rhode Island bank, that was approved by the SBA.

This business, based in Lincoln Park, Rhode Island, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Washington Tr Co - Westerly. We've got the inside scoop on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL WAREHOUSING AND STORAGE
LINCOLN PARK, RI 02865

SBA Loan Lender

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

This SBA 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

493110 - General Warehousing and Storage

Loan Approval Date

10/4/2002

Loan Approval Gross Amount

$215,000

Loan Approval from the SBA

Of the total $215,000 loan amount, the SBA guaranteed $107,500.

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 12 employees. The loan application indicated that the loan would help retain 12 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Washington Tr Co - Westerly had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Washington Tr Co - Westerly made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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