Canton, Connecticut Entrepreneur Gets a Business Loan

Want a Connecticut SBA loan? This Connecticut entrepreneur got an SBA loan, provided by a Rhode Island bank that works with the SBA to help small business owners.

This company, based in Canton, Connecticut, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of America. We've got the inside scoop on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: BOAT DEALERS
CANTON, CT 06019

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

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

SIC Code

5551 - Boat Dealers

NAICS Code

441222 - Boat Dealers

Loan Approval Date

7/13/2000

Loan Approval Gross Amount

$85,700

Loan Approval from the SBA

Of the total $85,700 loan amount, the SBA guaranteed $42,850.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 $85,700 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.

Related Links:

The Friends and Family Network

Where to Get an SBA Loan in Providence, Rhode Island

Browse All Business Loan Sources for Rhode Island