Entrepreneur Works With Naugatuck, Connecticut Bank to Get an SBA Loan

Get business loans from a Naugatuck, Connecticut bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Naugatuck Savings Bank is a Naugatuck, Connecticut small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Connecticut company.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOLS, METAL CUTTING TYPES
NEW BRITAIN, CT 06051

SBA Loan Lender

NAUGATUCK SAVINGS BANK
87 CHURCH ST
NAUGATUCK, CT 06770

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 small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3541 - Machine Tools, Metal Cutting Types

NAICS Code

333512 - Machine Tool Manufacturing

Loan Approval Date

11/8/2001

Loan Approval Gross Amount

$495,000

Loan Approval from the SBA

Of the total $495,000 loan amount, the SBA guaranteed $371,250.

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 10 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

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

Don't apply for a loan directly with the SBA. You need to 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 Naugatuck Savings Bank 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.

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