Connecticut Entrepreneur Secures Financing to Buy Sea Tow Of Rhode Island Franchise

Borrowing money to purchase a Sea Tow Of Rhode Island franchise? Newtown Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Sea Tow Of Rhode Island franchise? If so, here's a 2007 SBA franchise loan that you should know about. Newtown Savings Bank was the lender and the entrepreneur was based in Sandy Hook, Connecticut.

SBA Loan Borrower

CANDLEWOOD LAKE MARINE TOWING
SANDY HOOK, CT 06482

SBA Loan Lender

NEWTOWN SAVINGS BANK
39 MAIN ST
NEWTOWN, CT 06470

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

488410 - Motor Vehicle Towing

Loan Approval Date

4/17/2007

Loan Approval Gross Amount

$39,600

Loan Approval from the SBA

Of the total $39,600 loan amount, the SBA guaranteed $19,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sea Tow Of Rhode Island franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 9 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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