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April 20, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Miami, Business Loans > Citibank Miami Business Loans > Photofinishing Laboratories Loan | ||||
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SBA 7A Banks That Lend to Connecticut Small Businesses
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Citibank Gives Business Loan to Photofinishing Laboratories CompanyLooking to get a Connecticut small business loan? This Connecticut entrepreneur got a small business loan, provided by a Florida bank that works with the SBA to help small business owners. This small business, based in Darien (town Of), 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 Citibank. We've got the inside scoop on this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: PHOTOFINISHING LABORATORIES SBA Loan Lender CITIBANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 812921 - Photofinishing Laboratories Loan Approval Date 10/14/2004 Loan Approval Gross Amount $142,000 Loan Approval from the SBA Of the total $142,000 loan amount, the SBA guaranteed $71,000. 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. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 $142,000 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: Best Miami, Florida Banks for Small Business
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