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November 15, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Westerly, Business Loans > Washington Tr Co - Westerly Westerly Business Loans > Musical Instrument And Supplies Stores Loan | ||||
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Stonington, Connecticut Bank Loan
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Financing for Musical Instrument and Supplies StoresLooking for loans for musical instrument and supplies stores? Try the SBA. This $50,000 musical instrument and supplies stores loan was issued by a Rhode Island bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Stonington, Connecticut was able to borrow $50,000 from Washington Tr Co - Westerly. The SBA made the loan possible by guaranteeing $25,000 of this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES 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 451140 - Musical Instrument and Supplies Stores Loan Approval Date 5/24/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. We've showcased information on this loan to let you know that businesses like yours 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. Related Links: SBA Approved Banks in Westerly, Rhode Island
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