Simsbury Bank & Trust Inc. SBA Loan to Forestry Services Company

Simsbury Bank & Trust Inc. has a track record as a leading provider of SBA loans. Find out how this Massachusetts entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in W Granville, Massachusetts, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Simsbury Bank & Trust Inc., based in Granby, Connecticut.

SBA Loan Borrower

COMPANY TYPE: FORESTRY SERVICES
W GRANVILLE, MA 01034

SBA Loan Lender

SIMSBURY BANK & TRUST INC.
11 HARTFORD AVE
GRANBY, CT 06035

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0851 - Forestry Services

NAICS Code

115310 - Support Activities for Forestry

Loan Approval Date

5/16/2000

Loan Approval Gross Amount

$13,750

Loan Approval from the SBA

Of the total $13,750 loan amount, the SBA guaranteed $11,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Simsbury Bank & Trust Inc. are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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