Small Business Loans for Finfish Fishing

With these small business loans for finfish fishing, the SBA guarantees the lender that the loan will be repaid. This finfish fishing loan for $250,000 was given to a Rhode Island entrepreneur in 2004.

This company knew how to go about getting a business bank loan. Based in Exeter, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Washington Tr Co - Westerly, based in Westerly, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: FINFISH
EXETER, RI 02822

SBA Loan Lender

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

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0912 - Finfish

NAICS Code

114111 - Finfish Fishing

Loan Approval Date

5/28/2004

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Washington Tr Co - Westerly and they will explain how you can get an SBA loan for your company.

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:

Obtaining Funding - How to Decide How Much to Raise

Small Business Banks in Westerly, Rhode Island

Rhode Island SBA Bank Lenders