Valley National Bank Provides SBA Loan to Buy Carrosel Systems Franchise

Need a loan to purchase a Carrosel Systems franchise? Valley National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Brookfield Center, Connecticut needed money to invest in a Carrosel Systems franchise back in 2001. Valley National Bank issued an SBA franchise loan. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

THE GODDARD SCHOOL
BROOKFIELD CENTER, CT 06804

SBA Loan Lender

VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611699 - Schools and Instruction

Loan Approval Date

8/22/2001

Loan Approval Gross Amount

$232,400

Loan Approval from the SBA

Of the total $232,400 loan amount, the SBA guaranteed $174,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Carrosel Systems franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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