Simsbury, Connecticut Bank Lends Money to General Rental Centers Company in Bloomfield, Connecticut

Want to talk with a Simsbury, Connecticut bank about a business loan? Here's one Connecticut business loan, issued by a Simsbury bank, that was approved by the SBA.

Applying for an SBA loan with Simsbury Bank & Trust Inc. worked out well for our friends at one local business in Bloomfield, Connecticut. The business was able to get an SBA loan for $240,000. Great job!

SBA Loan Borrower

COMPANY TYPE: GENERAL RENTAL CENTERS
BLOOMFIELD, CT 06002

SBA Loan Lender

SIMSBURY BANK & TRUST INC.
760 HOPMEADOW ST
SIMSBURY, CT 06070

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

532310 - General Rental Centers

Loan Approval Date

3/29/2007

Loan Approval Gross Amount

$240,000

Loan Approval from the SBA

Of the total $240,000 loan amount, the SBA guaranteed $120,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 13 employees. This SBA loan request indicated that the loan would help retain 13 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Simsbury Bank & Trust Inc. and they will explain how you can get an SBA loan for your company.

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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