Providence, Rhode Island Bank Gives SBA Loan to Record And Prerecorded Tape Stores Company
Get business loans from a Providence, Rhode Island bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.
Washington Tr Co - Westerly is a Providence, Rhode Island small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Rhode Island company.
SBA Loan Borrower
COMPANY TYPE: RECORD AND PRERECORDED TAPE STORES
WESTERLY, RI 02891
SBA Loan Lender
WASHINGTON TR CO - WESTERLY
180 WASHINGTON ST
PROVIDENCE, RI 02903
This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5735 - Record and Prerecorded Tape Stores
NAICS Code
451220 - Prerecorded Tape, Compact Disc, and Record Stores
Loan Approval Date
6/28/2000
Loan Approval Gross Amount
$55,000
Loan Approval from the SBA
Of the total $55,000 loan amount, the SBA guaranteed $44,000.
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 9 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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.
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