SBA Loan from Westerly Community Cu Helps Landscaping Services Company

Westerly Community Cu 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.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Westerly (census Name Westerly, Rhode Island was able to borrow $65,000 from Westerly Community Cu. The SBA made the loan possible by guaranteeing $32,500 of this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: LANDSCAPING SERVICES
WESTERLY (CENSUS NAME WESTERLY, RI 02891

SBA Loan Lender

WESTERLY COMMUNITY CU
122 GRANITE ST
WESTERLY, RI 02891

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

561730 - Landscaping Services

Loan Approval Date

3/29/2006

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $32,500.

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 only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Westerly (census Name Westerly RI, you ought to talk with a local Westerly (census Name Westerly SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Westerly (census Name Westerly businesses.

If you need to find money for a 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:

SBIR Funding

Banks in Westerly, Rhode Island

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