Business Loan from Washington Tr Co - Westerly Given to Full-Service Restaurants Company

An SBA loan from Washington Tr Co - Westerly typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Narragansett, Rhode Island business owner got a $40,000 loan.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Washington Tr Co - Westerly, out of Westerly, Rhode Island. The loan was granted and they received $40,000 to help grow their Narragansett, Rhode Island business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
NARRAGANSETT, RI 02882

SBA Loan Lender

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

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722110 - Full-Service Restaurants

Loan Approval Date

1/26/2007

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 24 employees. This SBA loan request indicated that the loan would help retain 24 existing jobs.

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

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

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.

Related Links:

How to Raise Money

Best Banks for Small Business in Westerly, Rhode Island

Where to Get an SBA Loan Rhode Island