862 Waterman Avenue, LLC
862 Waterman Avenue, LLC, located in East Providence, Rhode Island, operates in the industry of other miscellaneous durable goods merchant wholesalers. The company financed real estate or equipment through an SBA 504 loan with an SBA portion of $1,639,000, approved on February 4, 2025, with Bristol County Savings Bank as the lender and Ocean State Business Development Authority as the certified development company.
SBA 504 loan, approved Feb 4, 2025
$1,639,000 SBA portionCDC: Ocean State Business Development Authority25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,639,000
- Bank portion
- $2,000,000
- Estimated project size
- $4,043,333 (estimated)
- Estimated owner equity
- $404,333 (estimated, about 10% of the project)
- Bank lender
- Bristol County Savings Bank, Taunton, MA
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- February 4, 2050 (estimated, approval date plus term)
- First disbursement
- May 14, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 19
- Business type
- Corporation
- NAICS
- 423990, Other Miscellaneous Durable Goods Merchant Wholesalers
- Project location
- Providence County, RI
- SBA district office
- Rhode Island District Office
- Congressional district
- RI-1
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Larger than 29% of expansion loans in Other Miscellaneous Durable Goods Merchant Wholesalers on this site.
- Average expansion loan in Other Miscellaneous Durable Goods Merchant Wholesalers: $2,562,152.
- Average expansion loan in Rhode Island: $1,662,733.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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Same industry in Rhode Island
- M&M Don Mar, LLC, East Providence
- Strobes N' More, LLC, Westerly