Business Loan from Washington Tr Co - Westerly Given to Liquor Stores 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 North Attleboro, Massachusetts business owner got a $125,000 loan.

This business knew how to go about getting a business bank loan. Based in North Attleboro, Massachusetts, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Washington Tr Co - Westerly, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: LIQUOR STORES
NORTH ATTLEBORO, MA 02760

SBA Loan Lender

WASHINGTON TR CO - WESTERLY
180 WASHINGTON ST
PROVIDENCE, RI 02903

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5921 - Liquor Stores

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

8/21/2003

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 2 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Related Links:

Financing Your Business

SBA 7A Banks for Providence, Rhode Island Loans

SBA Participating Banks in Rhode Island