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May 19, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Westerly, Business Loans > Washington Tr Co - Westerly Westerly Business Loans > Machine Tool Accessories Loan | ||||
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Westerly Lenders
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Entrepreneur Works With Westerly, Rhode Island Bank to Get an SBA LoanA Westerly, Rhode Island SBA loan can be yours. Learn how a business got a $50,000 business loan from this Rhode Island bank. This loan to an entrepreneur is a good example of an SBA loan. Washington Tr Co - Westerly made the loan and the SBA guaranteed a portion of the loan. Many other Rhode Island entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: MACHINE TOOL ACCESSORIES 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 3545 - Machine Tool Accessories NAICS Code 332212 - Hand and Edge Tool Manufacturing Loan Approval Date 12/6/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. 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 17 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. We can help you find the best banks for small businesses in Westerly 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: SBA 7A Banks for Westerly, Rhode Island Loans
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