Where to Get Capital for Fresh and Frozen Seafood Processing

Looking for small business loans for fresh and frozen seafood processing? Talk to a banker who works with the SBA. This $275,000 fresh and frozen seafood processing loan was issued by a Rhode Island bank.

Getting a small business loan in Wakefield, Rhode Island was important for this growing firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Washington Tr Co - Westerly, operating out of Westerly, Rhode Island. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: FRESH AND FROZEN SEAFOOD PROCESSING
Wakefield, RI 02879

SBA Loan Lender

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

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

311712 - Fresh and Frozen Seafood Processing

Loan Approval Date

6/1/2007

Loan Approval Gross Amount

$275,000

Loan Approval from the SBA

Of the total $275,000 loan amount, the SBA guaranteed $137,500.

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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $275,000 loan. Remember, feel the fear, and do it anyway.

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.

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