Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

East Lyme, Connecticut Bank Loan

 

 
Loan Census SBA Loan Info

Where to Get Capital for Physicians

With these small business loans for physicians, the SBA guarantees the lender that the loan will be repaid. This physicians loan for $100,000 was given to a Connecticut entrepreneur in 2004.

This company knew how to go about getting a business bank loan. Based in East Lyme, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Chelsea Groton Savings Bank, based in Groton, Connecticut.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
EAST LYME, CT 06333

SBA Loan Lender

CHELSEA GROTON SAVINGS BANK
904 POQUONNOCK RD
GROTON, CT 06340

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621111 - Physicians

Loan Approval Date

5/10/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Role of Business Plan When Raising Money

Best Groton, Connecticut Banks for Small Business

Connecticut SBA 7A Lenders