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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 > Aluminum Extruded Products Loan | ||||
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Rhode Island Small Business Funding
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How to Get a Loan for Aluminum Extruded Product ManufacturingLooking for SBA loans for aluminum extruded product manufacturing? Try the SBA. This $100,000 aluminum extruded product manufacturing loan was issued by a Rhode Island bank. This small business knew how to go about getting a business bank loan. Based in Woonsocket, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Washington Tr Co - Westerly, based in Providence, Rhode Island. SBA Loan Borrower COMPANY TYPE: ALUMINUM EXTRUDED PRODUCTS SBA Loan Lender WASHINGTON TR CO - WESTERLY This lender issued this particular commercial 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 3354 - Aluminum Extruded Products NAICS Code 331316 - Aluminum Extruded Product Manufacturing Loan Approval Date 10/11/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. 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 2 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Washington Tr Co - Westerly and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Banks in Providence, Rhode Island
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