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April 23, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Cheshire, Business Loans > Webster Bank Cheshire Business Loans > Help Supply Services Loan | ||||
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Webster Bank Small Business Loans Middlebury, CT
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Business Loan from Webster Bank Given to Help Supply Services CompanyWebster Bank 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. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Middlebury, Connecticut was able to borrow $563,000 from Webster Bank. The SBA made the loan possible by guaranteeing $422,250 of this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: HELP SUPPLY SERVICES SBA Loan Lender WEBSTER BANK This bank loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7363 - Help Supply Services NAICS Code 561320 - Temporary Help Services Loan Approval Date 9/3/2002 Loan Approval Gross Amount $563,000 Loan Approval from the SBA Of the total $563,000 loan amount, the SBA guaranteed $422,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 23 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Webster Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: The Friends and Family Network Best Banks in Cheshire, Connecticut SBA Participating Banks in Connecticut
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