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March 28, 2024  
 
 
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Requirements for Businesses On Getting a Loan

 

 
Loan Census SBA Loan Info

Commercial Bakeries SBA Loans

With these SBA loans for commercial bakeries, the SBA guarantees the lender that the loan will be repaid. This commercial bakeries loan for $300,000 was given to a Connecticut entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Haven, Connecticut was able to borrow $300,000 from Newalliance Bank. The SBA made the loan possible by guaranteeing $225,000 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: BREAD, CAKE, AND RELATED BAKERY PRODUCTS
NEW HAVEN, CT 06511

SBA Loan Lender

NEWALLIANCE BANK
195 CHURCH ST
NEW HAVEN, CT 06510

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

2051 - Bread, Cake, and Related Bakery Products

NAICS Code

311812 - Commercial Bakeries

Loan Approval Date

5/1/2001

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 45 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Newalliance Bank and they will explain how you can get an SBA loan for your company.

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 Line of Credit

SBA 7A Banks for New Haven, Connecticut Loans

SBA Lenders in Connecticut