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May 17, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > Middlebury, Business Loans > National Bank Of Middlebury Middlebury Business Loans > Bread, Cake, And Related Bakery Products Loan | ||||
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What Does It Take to Get a Business Loan in Bristol, Vermont?
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How to Get a Loan for Commercial BakeriesWith these business loans for commercial bakeries, the SBA guarantees the lender that the loan will be repaid. This commercial bakeries loan for $61,000 was given to a Vermont entrepreneur in 2000. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bristol, Vermont was able to borrow $61,000 from National Bank Of Middlebury. The SBA made the loan possible by guaranteeing $48,800 of this Vermont small business loan. SBA Loan Borrower COMPANY TYPE: BREAD, CAKE, AND RELATED BAKERY PRODUCTS SBA Loan Lender NATIONAL BANK OF MIDDLEBURY This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2051 - Bread, Cake, and Related Bakery Products NAICS Code 311812 - Commercial Bakeries Loan Approval Date 12/14/2000 Loan Approval Gross Amount $61,000 Loan Approval from the SBA Of the total $61,000 loan amount, the SBA guaranteed $48,800. 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 6 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National Bank Of Middlebury had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National Bank Of Middlebury made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Dealing With Venture Capitalists Find an SBA Lender in Middlebury, Vermont
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