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November 15, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Westerly, Business Loans > Washington Tr Co - Westerly Westerly Business Loans > Full-Service Restaurants Loan | ||||
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SBA Loan from Washington Tr Co - Westerly
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SBA Loan from Washington Tr Co - Westerly Helps Full-Service Restaurants CompanyWashington Tr Co - Westerly has a track record as a leading provider of SBA loans. Find out how this Rhode Island entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Providence, Rhode Island, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Washington Tr Co - Westerly, based in Westerly, Rhode Island. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender WASHINGTON TR CO - WESTERLY This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 5/28/2004 Loan Approval Gross Amount $42,000 Loan Approval from the SBA Of the total $42,000 loan amount, the SBA guaranteed $21,000. 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 17 employees. This SBA loan request indicated that the loan would help retain 17 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $42,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Small Bank Loans in Westerly, Rhode Island Getting an SBA Loan in Rhode Island
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