Business Loan from Liberty Bank Given to Insurance Agents And Brokers Company

Liberty Bank has a track record as a leading provider of SBA loans. Find out how this Connecticut entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in East Lyme, Connecticut, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Liberty Bank, based in Middletown, Connecticut.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
EAST LYME, CT 06333

SBA Loan Lender

LIBERTY BANK
315 MAIN ST
MIDDLETOWN, CT 06457

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6411 - Insurance Agents and Brokers

Loan Approval Date

5/30/2000

Loan Approval Gross Amount

$324,000

Loan Approval from the SBA

Of the total $324,000 loan amount, the SBA guaranteed $243,000.

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 11 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Liberty Bank and they will explain how you can get an SBA loan for your company.

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:

Financing Your Business

Banks in Middletown, Connecticut

SBA Lenders in Connecticut