Warwick, Rhode Island Business Gets SBA-Guaranteed Funding from Washington Tr Co - Westerly

An SBA loan from Washington Tr Co - Westerly typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Warwick, Rhode Island business owner got a $174,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Warwick, Rhode Island was able to borrow $174,000 from Washington Tr Co - Westerly. The SBA made the loan possible by guaranteeing $147,900 of this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: DENTISTS
Warwick, RI 02889

SBA Loan Lender

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

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621210 - Dentists

Loan Approval Date

3/24/2006

Loan Approval Gross Amount

$174,000

Loan Approval from the SBA

Of the total $174,000 loan amount, the SBA guaranteed $147,900.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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