Warwick, Rhode Island Bank Gives SBA Loan to Full-Service Restaurants Company

Want to talk with a Warwick, Rhode Island bank about a business loan? Here's one Massachusetts business loan, issued by a Warwick bank, that was approved by the SBA.

Applying for an SBA loan with Coastway Cu worked out well for our friends at one local business in Marshfield, Massachusetts. They received an SBA loan for $55,000. Great job!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MARSHFIELD, MA 02020

SBA Loan Lender

COASTWAY CU
2089 WARWICK AVE
WARWICK, RI 02889

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide debt financing to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/26/2005

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $55,000. How would you spend $55,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

VC Firms on Twitter

Who Lends Money to Small Businesses in Warwick, Rhode Island

SBA Participating Banks in Rhode Island