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April 30, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > New Haven, Business Loans > Newalliance Bank New Haven Business Loans > Eating Places Loan | ||||
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Connecticut Bank SBA Loans
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Newalliance Bank SBA Loan to Eating Places CompanyWant a Connecticut small business loan? Here's one Connecticut business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Haven, Connecticut was able to borrow $130,000 from Newalliance Bank. The SBA made the loan possible by guaranteeing $97,500 of this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender NEWALLIANCE BANK This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 1/4/2000 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $97,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application did not indicate that the business 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? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Newalliance Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Newalliance Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 7A Banks for New Haven, Connecticut Loans
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