Confectionery Wholesalers Loans

With these loans for confectionery wholesalers, the SBA guarantees the lender that the loan will be repaid. This confectionery wholesalers loan for $350,000 was given to a Rhode Island entrepreneur in 2000.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Washington Tr Co - Westerly, out of Narragansett, Rhode Island. The loan was granted and they received $350,000 to help grow their Wakefieldett, Rhode Island business.

SBA Loan Borrower

COMPANY TYPE: FISH AND SEAFOODS
WAKEFIELDETT, RI 02879

SBA Loan Lender

WASHINGTON TR CO - WESTERLY
20 POINT JUDITH RD
NARRAGANSETT, RI 02882

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

5146 - Fish and Seafoods

NAICS Code

422450 - Confectionery Wholesalers

Loan Approval Date

5/24/2000

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $315,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Washington Tr Co - Westerly had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Washington Tr Co - Westerly made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Business Credit Evaluation

SBA Banks in Narragansett, Rhode Island

SBA Lenders in Rhode Island