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April 24, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Glastonbury, Business Loans > Td Banknorth Glastonbury Business Loans > Eating Places Loan | ||||
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Requirements for Business Owners On Getting a Loan
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Full-Service Restaurants SBA LoansWith these SBA loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $100,000 was given to a Connecticut entrepreneur in 2001. This business knew how to go about getting a business bank loan. Based in Rocky Hill, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Td Banknorth, based in Glastonbury, Connecticut. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender TD BANKNORTH This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 11/16/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 6 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Glastonbury, Connecticut
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