Borrow Money to Buy a Do It Best Hardware Franchise

Borrowing money to invest in a Do It Best Hardware franchise? Washington Tr Co - Westerly has a history of making these loans and they are guaranteed by the SBA.

Do It Best Hardware franchise loans are available to Wyoming, Rhode Island entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Washington Tr Co - Westerly, based in Westerly, Rhode Island, issued an SBA franchise loan for a Do It Best Hardware franchise in 2003. We've got all the details on this Rhode Island small business loan.

SBA Loan Borrower

WYOMING HARDGOODS, INC.
WYOMING, RI 02898

SBA Loan Lender

WASHINGTON TR CO - WESTERLY
23 BROAD ST
WESTERLY, RI 02891

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

5251 - Hardware Stores

NAICS Code

444130 - Hardware Stores

Loan Approval Date

1/28/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Do It Best Hardware franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $50,000 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:

Do It Best Hardware

How Much Venture Capital Is There?

Small Business Banks in Westerly, Rhode Island

Rhode Island SBA Banks