Business Loan from Webster Bank Given to Special Dies And Tools, Die Sets, Jigs And Fixture Company

Webster Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Rhode Island entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in Warwick, Rhode Island, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Webster Bank, based in Pawtucket, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: SPECIAL DIES AND TOOLS, DIE SETS, JIGS AND FIXTURE
WARWICK, RI 02886

SBA Loan Lender

WEBSTER BANK
265 NEWPORT AVE
PAWTUCKET, RI 02861

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3544 - Special Dies and Tools, Die Sets, Jigs and Fixture

NAICS Code

333514 - Special Die and Tool, Die Set, Jig, and Fixture Manufacturing

Loan Approval Date

11/17/2000

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 14 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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:

Small Business Credit Cards

Banks in Pawtucket, Rhode Island

Rhode Island SBA 7A Lenders