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April 19, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Bristol, Business Loans > Farmington Savings Bank Bristol Business Loans > Eating Places Loan | ||||
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SBA Lenders Connecticut
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Bristol, Connecticut Lender Lends Money to Eating Places CompanyThinking about meeting with a Bristol, Connecticut bank about an SBA loan? Here's one Connecticut business loan, issued by a Bristol bank, that was approved by the SBA. Applying for an SBA loan with Farmington Savings Bank worked out well for our friends at one local firm in Plainville, Connecticut. They got an SBA loan for $54,000. Great job! SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FARMINGTON SAVINGS BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 1/25/2000 Loan Approval Gross Amount $54,000 Loan Approval from the SBA Of the total $54,000 loan amount, the SBA guaranteed $43,200. 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 2 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees 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 Farmington Savings 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: SBA 7A Lenders in Bristol, Connecticut
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