Small Business Loans for Finfish Fishing

With these small business loans for finfish fishing, the SBA guarantees the lender that the loan will be repaid. This finfish fishing loan for $350,000 was given to a Rhode Island entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Narragansett, Rhode Island was able to borrow $350,000 from Washington Tr Co - Westerly. The SBA made the loan possible by guaranteeing $262,500 of this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: FINFISH
NARRAGANSETT, RI 02882

SBA Loan Lender

WASHINGTON TR CO - WESTERLY
20 POINT JUDITH RD
NARRAGANSETT, RI 02882

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0912 - Finfish

NAICS Code

114111 - Finfish Fishing

Loan Approval Date

7/8/2002

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 4 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

The Art of Bootstrapping

SBA Approved Banks in Narragansett, Rhode Island

SBA Lenders in Rhode Island