Westerly, Rhode Island Lender Lends Money to Full-Service Restaurants Company

Want to talk with a Westerly, Rhode Island bank about an SBA loan? Here's one Rhode Island business loan, issued by a Westerly bank, that was approved by the SBA.

Applying for an SBA loan with Westerly Community Cu worked out well for our friends at one local firm in Westerly (census Name Westerly, Rhode Island. The business was able to get an SBA loan for $33,250. Way to go!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
WESTERLY (CENSUS NAME WESTERLY, RI 02891

SBA Loan Lender

WESTERLY COMMUNITY CU
122 GRANITE ST
WESTERLY, RI 02891

This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

722110 - Full-Service Restaurants

Loan Approval Date

9/1/2006

Loan Approval Gross Amount

$33,250

Loan Approval from the SBA

Of the total $33,250 loan amount, the SBA guaranteed $16,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Westerly Community Cu so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Obtaining Funding From a Venture Capitalist

Small Bank Loans in Westerly, Rhode Island

SBA Participating Banks in Rhode Island