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April 28, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Washington Tr Co - Westerly Providence Business Loans > Crushed And Broken Granite Loan | ||||
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Getting SBA Loans from Washington Tr Co - Westerly
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SBA Loan from Washington Tr Co - Westerly Helps Crushed And Broken Granite CompanyWashington Tr Co - Westerly has a track record as a leading provider of SBA loans. Find out how this Rhode Island entrepreneur received an SBA loan from them. Getting a small business loan in N. Kingstown, Rhode Island was an essential business goal for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Washington Tr Co - Westerly, operating out of Providence, Rhode Island. Here are the details on this Rhode Island small business loan. SBA Loan Borrower COMPANY TYPE: CRUSHED AND BROKEN GRANITE SBA Loan Lender WASHINGTON TR CO - WESTERLY This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1423 - Crushed and Broken Granite NAICS Code 212313 - Crushed and Broken Granite Mining Loan Approval Date 2/1/2001 Loan Approval Gross Amount $123,750 Loan Approval from the SBA Of the total $123,750 loan amount, the SBA guaranteed $105,187. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business 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. Related Links: SBA 7A Lenders in Providence, Rhode Island
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