Borrowing Money for Special Trade Contractors

Looking for bank loans for special trade contractors? Talk to a banker who works with the SBA. This $150,000 special trade contractors loan was issued by a Connecticut bank.

This small firm knew how to go about getting a business bank loan. Based in New Britain, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Connecticut Bank & Trust, based in Hartford, Connecticut.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
NEW BRITAIN, CT 06050

SBA Loan Lender

CONNECTICUT BANK & TRUST
58 STATE HOUSE SQ
HARTFORD, CT 06103

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

235990 - Special Trade Contractors

Loan Approval Date

11/10/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 46 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 46 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, feel the fear, and do it anyway.

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:

Choosing VC Firms

Who Lends Money to Small Businesses in Hartford, Connecticut

SBA Participating Banks in Connecticut