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May 18, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > South Burlington, Business Loans > The Merchants Bank South Burlington Business Loans > Full-Service Restaurants Loan | ||||
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Vermont Bank SBA Loans
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The Merchants Bank SBA Loan to Full-Service Restaurants CompanyThe Merchants Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Vermont entrepreneur who tapped into the power of SBA loans. This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with The Merchants Bank, out of South Burlington, Vermont. The loan was granted and they received $135,000 to help grow their Williston, Vermont business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender THE MERCHANTS BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 5/3/2006 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $114,750. 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 13 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 13 existing jobs. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. This SBA loan was for $135,000. How would you spend $135,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Role of Business Plan When Raising Money Find an SBA Lender in South Burlington, Vermont
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