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November 14, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Washington Tr Co - Westerly Providence Business Loans > Hobby, Toy, And Game Shops Loan | ||||
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Small Business Banks for Warwick, Rhode Island Business Owners
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Local Business Gets a Rhode Island Business LoanRhode IslandBusiness loans are available to Rhode Island business owners through the SBA. In this case, a Rhode Island bank provides the loan. This small business, based in Warwick, Rhode Island, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Washington Tr Co - Westerly. We've got the inside scoop on this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: HOBBY, TOY, AND GAME SHOPS SBA Loan Lender WASHINGTON TR CO - WESTERLY This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5945 - Hobby, Toy, and Game Shops NAICS Code 451211 - Book Stores Loan Approval Date 10/23/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Role of Business Plan When Raising Money Small Bank Loans in Providence, Rhode Island
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