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April 25, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Waterbury, Business Loans > Webster Bank Waterbury Business Loans > Full-Service Restaurants Loan | ||||
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Webster Bank
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Business Loan from Webster Bank Given to Full-Service Restaurants CompanyWebster Bank 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. This small firm knew how to go about getting a business bank loan. Based in Riverside, Rhode Island, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Webster Bank, based in Waterbury, Connecticut. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender WEBSTER BANK The lender provided this SBA 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 722110 - Full-Service Restaurants Loan Approval Date 6/7/2004 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you need business start up money in Riverside RI, you ought to talk with a local Riverside SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Riverside businesses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Borrowing Money from Friends and Family Banks in Waterbury, Connecticut
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