Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Connecticut River Commun Bk

 

 
Loan Census SBA Loan Info

SBA Loan from Connecticut River Commun Bk Helps Child Day Care Services Company

Connecticut River Commun Bk and the SBA work together to get business loans for growing small businesses. Here's an example of how a Connecticut entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Glastonbury, Connecticut was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Connecticut River Commun Bk, operating out of Wethersfield, Connecticut. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
GLASTONBURY, CT 06033

SBA Loan Lender

CONNECTICUT RIVER COMMUN BK
1190 SILAS DEANE HWY
WETHERSFIELD, CT 06109

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

11/8/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 16 employees. The SBA loan application for the borrower indicated that the loan would help retain 16 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Connecticut River Commun Bk that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Cash Advances

Best Banks in Wethersfield, Connecticut

Connecticut SBA 7A Lenders