CONTACT: Elizabeth Eckel, SVP Marketing, 401-348-1309
DATE: September 20, 2005
T's Restaurant Received $800,000 SBA Loan from Washington Trust
Westerly, Rhode Island... The Washington Trust Company provided $800,000 in financing to Anthony and Tina Tomaselli, owners of T's Restaurant at 1059 Park Avenue in Cranston, R.I. The loan was made in conjunction with the Small Business Administration (SBA).The financing was used to renovate and expand T's Restaurant by adding a 40-foot addition and more parking space. The restaurant, with the expansion and renovations complete, is 2,900 square feet with seating for 92 (there was previously only seating for 60), and the available parking space has doubled.
T's Restaurant, which is open for breakfast and lunch seven days a week, will also be open for dinner beginning in November 2005. A catering business is also run out of the restaurant by the Tomasellis, who have been in the restaurant business since 1982.
"Washington Trust is pleased to provide financing to the Tomasellis
for their restaurant," said John C. Warren, Chairman and CEO
of The Washington Trust Company. "T's Restaurant has been a
popular restaurant for years in Cranston and we wish them much success
for the future."
The Washington Trust Company is the largest independent bank headquartered in Rhode Island. A state-chartered bank, Washington Trust offers a full range of financial services, including trust and investment management, through its 16 branch offices located in Rhode Island and southeastern Connecticut. Founded in 1800, the Bank is a subsidiary of Washington Trust Bancorp, Inc., whose common stock trades on The NASDAQ Stock Market® under the symbol WASH. Web site address: www.washtrust.com.
