Connecticut Business Loan Issued to Sporting Goods Stores And Bicycle Shops Company
ConnecticutSBA loans are available to Connecticut entrepreneurs through the SBA. In this case, a Virginia bank provides the loan.
This small business, based in Corn Wall Bridge, 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 Business Loan Center, LLC. We've got the inside scoop on this Connecticut small business loan.
SBA Loan Borrower
COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
CORN WALL BRIDGE, CT 06754
SBA Loan Lender
BUSINESS LOAN CENTER, LLC
3900 WESTERRE PARKWAY, SUITE
RICHMOND, VA 23233
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5941 - Sporting Goods Stores and Bicycle Shops
NAICS Code
451110 - Sporting Goods Stores
Loan Approval Date
10/3/2000
Loan Approval Gross Amount
$182,000
Loan Approval from the SBA
Of the total $182,000 loan amount, the SBA guaranteed $136,500.
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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.
Next Steps for Getting an SBA Loan
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Business Loan Center, LLC had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Business Loan Center, LLC 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.
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