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March 28, 2024  
 
 
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I Need a Loan in Pine Meadow, Connecticut

 

 
Loan Census SBA Loan Info

Packaging and Labeling Services Commercial Loans

Looking for commercial loans for packaging and labeling services? Talk to a banker who works with the SBA. This $70,000 packaging and labeling services loan was issued by a Connecticut bank.

This business knew how to go about getting a business bank loan. Based in Pine Meadow, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Northwest Community Bank, based in Winsted, Connecticut.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
PINE MEADOW, CT 06061

SBA Loan Lender

NORTHWEST COMMUNITY BANK
86 MAIN ST
WINSTED, CT 06098

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

561910 - Packaging and Labeling Services

Loan Approval Date

3/12/2001

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

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

Although it's called an SBA loan, you 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Northwest Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Northwest Community 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.

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