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April 27, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Westerly, Business Loans > Westerly Community Cu Westerly Business Loans > Electrical Contractors And Wiring Installation Contractors Loan | ||||
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How Hard Is It to Get a Small Business Loan in Portsmouth, Rhode Island?
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Small Business Loans for Electrical Contractors and Wiring Installation ContractorsWith these small business loans for electrical contractors and wiring installation contractors, the SBA guarantees the lender that the loan will be repaid. This electrical contractors and wiring installation contractors loan for $80,000 was given to a Rhode Island entrepreneur in 2006. 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 $80,000 to help grow their Portsmouth, Rhode Island business. SBA Loan Borrower COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS SBA Loan Lender WESTERLY COMMUNITY CU This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 238210 - Electrical Contractors and Wiring Installation Contractors Loan Approval Date 10/6/2006 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $40,000. 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 indicated that the loan would help retain 3 existing jobs. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Westerly Community Cu had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Westerly Community Cu made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Determining Proper Capital Structure for a Business Who Lends Money to Small Businesses in Westerly, Rhode Island
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