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May 3, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Bridgeport, Business Loans > People's United Bank Bridgeport Business Loans > Ophthalmic Goods Loan | ||||
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Stamford Business Loan from People's United Bank
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SBA Loan from People's United Bank Helps Ophthalmic Goods CompanyAn SBA loan from People's United Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Stamford, Connecticut business owner got a $383,000 loan. Getting a small business loan in Stamford, Connecticut was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from People's United Bank, operating out of Bridgeport, Connecticut. Here are the details on this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: OPHTHALMIC GOODS SBA Loan Lender PEOPLE'S UNITED BANK This small business loan was granted by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA delivers a quick answer on whether the loan qualifies. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3851 - Ophthalmic Goods NAICS Code 339113 - Surgical Appliance and Supplies Manufacturing Loan Approval Date 2/6/2002 Loan Approval Gross Amount $383,000 Loan Approval from the SBA Of the total $383,000 loan amount, the SBA guaranteed $287,250. 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 16 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into People's United Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: The Friends and Family Network SBA 7A Banks for Bridgeport, Connecticut Loans
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