Recyclable Material Merchant Wholesalers Loans

Looking for loans for recyclable material merchant wholesalers? Talk to a banker who works with the SBA. This $1,235,000 recyclable material merchant wholesalers loan was issued by a Connecticut bank.

This company knew how to go about getting a business bank loan. Based in Stamford, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Newalliance Bank, based in New Haven, Connecticut.

SBA Loan Borrower

COMPANY TYPE: RECYCLABLE MATERIAL MERCHANT WHOLESALERS
STAMFORD, CT 06902

SBA Loan Lender

NEWALLIANCE BANK
195 CHURCH ST
NEW HAVEN, CT 06510

When it made this small business loan, this bank was part of the SBA's Certified Lenders Program (CLP). This program is designed to ensure 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.

NAICS Code

423930 - Recyclable Material Merchant Wholesalers

Loan Approval Date

1/5/2004

Loan Approval Gross Amount

$1,235,000

Loan Approval from the SBA

Of the total $1,235,000 loan amount, the SBA guaranteed $926,250.

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 24 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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 Newalliance 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:

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SBA Approved Banks in New Haven, Connecticut

SBA Connecticut Lenders