Pawtucket, Rhode Island Business Gets SBA-Guaranteed Funding from Webster Bank

Webster Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Rhode Island entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Pawtucket, Rhode Island was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Webster Bank, operating out of New Britain, Connecticut. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: CARPETS AND RUGS
PAWTUCKET, RI 02862

SBA Loan Lender

WEBSTER BANK
436 SLATER RD
NEW BRITAIN, CT 06053

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2273 - Carpets and Rugs

NAICS Code

314110 - Carpet and Rug Mills

Loan Approval Date

8/21/2006

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 135 employees. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Microlending as a Small Business Funding Source

SBA Banks in New Britain, Connecticut

Find an SBA Lender in Connecticut