Newalliance Bank Gives Bank Loan to Search, Detection, Navigation, Guidance, Aeronautical, And Nautical System Company

SBA loans in Connecticut are tough to come by these days. We take a look at one Connecticut SBA loan, provided by a Connecticut bank, that was approved by the SBA.

Getting a small business loan in Bethany (bethany Center), Connecticut was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Newalliance Bank. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL, AND NAUTICAL SYSTEM
BETHANY (BETHANY CENTER), CT 06524

SBA Loan Lender

NEWALLIANCE BANK
195 CHURCH ST
NEW HAVEN, CT 06510

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

334511 - Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System

Loan Approval Date

9/15/2003

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Bank Credit Lines

Small Bank Loans in New Haven, Connecticut

SBA Connecticut Lenders