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April 23, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Norwalk, Business Loans > Webster Bank Norwalk Business Loans > Primary Metal Products Loan | ||||
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Webster Bank
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Business Loan from Webster Bank Given to Primary Metal Products 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. This growing company knew how to go about getting a business bank loan. Based in Norwalk, Connecticut, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Webster Bank, based in Norwalk, Connecticut. SBA Loan Borrower COMPANY TYPE: PRIMARY METAL PRODUCTS SBA Loan Lender WEBSTER BANK At the time this loan was granted, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program is designed to give rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3399 - Primary Metal Products NAICS Code 332999 - Fabricated Metal Product Manufacturing Loan Approval Date 12/7/2001 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Approved Banks in Norwalk, Connecticut Getting a Business Loan in Connecticut
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