General Freight Trucking, Local Small Business Loans

With these small business loans for general freight trucking, local, the SBA guarantees the lender that the loan will be repaid. This general freight trucking, local loan for $100,000 was given to a Rhode Island entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Kingstown (local Name Wi, Rhode Island was able to borrow $100,000 from Washington Tr Co - Westerly. The SBA made the loan possible by guaranteeing $85,000 of this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL
NORTH KINGSTOWN (LOCAL NAME WI, RI 02852

SBA Loan Lender

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

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

4/22/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Washington Tr Co - Westerly that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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