Rhode Island Business Loan Issued to General Automotive Repair Shops Company

Rhode IslandBank loans are available to Rhode Island firms through the SBA. In this case, a Rhode Island bank provides the loan.

Getting a small business loan in Pawtucket, Rhode Island was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Washington Tr Co - Westerly. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
PAWTUCKET, RI 02860

SBA Loan Lender

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

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

6/14/2004

Loan Approval Gross Amount

$315,000

Loan Approval from the SBA

Of the total $315,000 loan amount, the SBA guaranteed $236,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Pawtucket or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

504 Loans

Small Business Banks in Westerly, Rhode Island

SBA Participating Banks in Rhode Island