Wickford, Rhode Island Entrepreneur Gets an SBA Loan

Would a Rhode Island small business loan help your small business to grow and prosper? If so, you may want to talk with this Rhode Island bank, which offers SBA loans to Rhode Island entrepreneurs.

Getting a small business loan in Wickford, Rhode Island was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Washington Tr Co - Westerly. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
WICKFORD, RI 02857

SBA Loan Lender

WASHINGTON TR CO - WESTERLY
180 WASHINGTON ST
PROVIDENCE, RI 02903

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5399 - General Merchandise Stores

NAICS Code

452910 - Warehouse Clubs and Superstores

Loan Approval Date

10/31/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 10 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Wickford RI, you ought to talk with a local Wickford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wickford businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

How to Raise Money

SBA Participating Banks in Providence, Rhode Island

Rhode Island SBA Banks