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April 28, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Westerly, Business Loans > Westerly Community Cu Westerly Business Loans > Musical Instrument And Supplies Stores Loan | ||||
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Westerly Community Cu
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SBA Loan from Westerly Community Cu Helps Musical Instrument And Supplies Stores CompanyWesterly Community Cu and the SBA work together to get business loans for growing small businesses. Here's an example of how a Connecticut entrepreneur was able to get a loan to take a small business to the next level. This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Westerly Community Cu, out of Westerly, Rhode Island. The loan was granted and they received $33,250 to help grow their East Lyme (flanders), Connecticut business. SBA Loan Borrower COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES SBA Loan Lender WESTERLY COMMUNITY CU The lender provided this commercial 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 451140 - Musical Instrument and Supplies Stores Loan Approval Date 5/24/2006 Loan Approval Gross Amount $33,250 Loan Approval from the SBA Of the total $33,250 loan amount, the SBA guaranteed $16,625. 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Westerly Community Cu are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: SBA 7A Banks in Westerly, Rhode Island
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