Bethel (town Of), Connecticut Entrepreneur Gets an SBA Loan

ConnecticutBusiness loans are available to Connecticut business owners through the SBA. In this case, a Connecticut bank provides the loan.

Getting a small business loan in Bethel (town Of), Connecticut was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Newtown Savings Bank. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: CUT STONE AND STONE PRODUCT MANUFACTURING
BETHEL (TOWN OF), CT 06801

SBA Loan Lender

NEWTOWN SAVINGS BANK
39 MAIN ST
NEWTOWN, CT 06470

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

327991 - Cut Stone and Stone Product Manufacturing

Loan Approval Date

1/26/2007

Loan Approval Gross Amount

$335,000

Loan Approval from the SBA

Of the total $335,000 loan amount, the SBA guaranteed $167,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $335,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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