Wakefield, RI Entrepreneur Gets SBA Loan to Buy Sylvan Learning Center Franchise

Need a loan to invest in a Sylvan Learning Center franchise? Washington Tr Co - Westerly has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Wakefield, Rhode Island needed money to invest in a Sylvan Learning Center franchise back in 2003. Washington Tr Co - Westerly issued an SBA franchise loan. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

SYLVAN LEARNING SYSTEMS
WAKEFIELD, RI 02879

SBA Loan Lender

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

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8299 - Schools and Educational Services

NAICS Code

611699 - Schools and Instruction

Loan Approval Date

3/13/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sylvan Learning Center franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We can help you find the best banks for small businesses in Wakefield or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Sylvan Learning Center

Small Business Credit Cards

SBA 7A Lenders in Westerly, Rhode Island

SBA Lenders in Rhode Island