Bridgeport, Connecticut Bank Gives SBA Loan to Construction Machinery And Equipment Company

Thinking about meeting with a Bridgeport, Connecticut bank about an SBA loan? Here's one Connecticut business loan, issued by a Bridgeport bank, that was approved by the SBA.

Applying for an SBA loan with People's United Bank worked out well for our friends at one local company in Fairfield, Connecticut. They received an SBA loan for $40,000. Nice!

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION MACHINERY AND EQUIPMENT
FAIRFIELD, CT 06430

SBA Loan Lender

PEOPLE'S UNITED BANK
850 MAIN ST
BRIDGEPORT, CT 06604

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3531 - Construction Machinery and Equipment

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

10/24/2001

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to find business people willing to loan money, 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.

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