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April 23, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Wethersfield, Business Loans > Connecticut River Commun Bk Wethersfield Business Loans > Tax Preparation Services Loan | ||||
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Connecticut SBA 7A Lenders
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Wethersfield, Connecticut Bank Lends Money to Tax Preparation Services Company in Bristol, ConnecticutThinking about meeting with a Wethersfield, Connecticut bank about a business loan? Here's one Connecticut business loan, issued by a Wethersfield bank, that was approved by the SBA. Applying for an SBA loan with Connecticut River Commun Bk worked out well for our friends at one local company in Bristol, Connecticut. They received an SBA loan for $250,000. Great job! SBA Loan Borrower COMPANY TYPE: TAX PREPARATION SERVICES SBA Loan Lender CONNECTICUT RIVER COMMUN BK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541213 - Tax Preparation Services Loan Approval Date 8/31/2006 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 10 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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: Role of Business Plan When Raising Money Find an SBA Lender in Wethersfield, Connecticut
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