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May 12, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > Saint Johnsbury, Business Loans > Union Bank Saint Johnsbury Business Loans > Welding Repair Loan | ||||
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How to Get an SBA Loan from Union Bank
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SBA Loan from Union Bank Helps Welding Repair CompanyUnion Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Vermont entrepreneur who tapped into the power of SBA loans. This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Union Bank, out of Saint Johnsbury, Vermont. The loan was granted and they received $100,000 to help grow their Lyndonville, Vermont business. SBA Loan Borrower COMPANY TYPE: WELDING REPAIR SBA Loan Lender UNION BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7692 - Welding Repair NAICS Code 811310 - Commercial and Industrial Machinery and Equipment Loan Approval Date 4/27/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. 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 documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. We can help you find the best banks for small businesses in Lyndonville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: SBA Banks in Saint Johnsbury, Vermont
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