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April 23, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Salisbury, Business Loans > Salisbury Bank & Trust Company Salisbury Business Loans > Home And Garden Equipment Repair And Maintenance Loan | ||||
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Salisbury Lenders
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Salisbury, Connecticut Lender Lends Money to Home And Garden Equipment Repair And Maintenance CompanyA Salisbury, Connecticut business loan can be yours. Learn how a company got a $100,000 business loan from this Connecticut bank. This loan to a local firm is a good example of an SBA loan. Salisbury Bank & Trust Company made the loan and the SBA guaranteed a portion of the loan. Many other Connecticut entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: HOME AND GARDEN EQUIPMENT REPAIR AND MAINTENANCE SBA Loan Lender SALISBURY BANK & TRUST COMPANY This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811411 - Home and Garden Equipment Repair and Maintenance Loan Approval Date 6/17/2005 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 2 employees. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Salisbury, Connecticut
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