Entrepreneur Works With Westerly, Rhode Island Bank to Get an SBA Loan
Find Westerly, Rhode Island banks that specialize in business loans and know how to work with entrepreneurs. Washington Tr Co - Westerly is one such bank, as evidenced by this SBA loan to one business.
Finding a small business loan in West Kingston, Rhode Island starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Washington Tr Co - Westerly. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
West Kingston, RI 02892
SBA Loan Lender
WASHINGTON TR CO - WESTERLY
23 BROAD ST
WESTERLY, RI 02891
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
10/12/2006
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.
Getting an SBA Loan For Your Business
If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $25,000 loan. Remember, anyone can do it... so why not you?
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:
Obtaining Funding - How to Decide How Much to Raise
Find an SBA Lender in Westerly, Rhode Island
Rhode Island SBA 7A Lenders