Connecticut Business Loan Issued to Piece Goods, Notions, And Other Dry Goods Company

Business loans in Connecticut are are few and far betweeen these days. We take a look at one Connecticut business loan, provided by a Rhode Island bank, that was approved by the SBA.

By giving the right information to Bank Of America, this Guilford (census Name Guilford, Connecticut business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: PIECE GOODS, NOTIONS, AND OTHER DRY GOODS
GUILFORD (CENSUS NAME GUILFORD, CT 06720

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

5131 - Piece Goods, Notions, and Other Dry Goods

Loan Approval Date

7/28/2000

Loan Approval Gross Amount

$45,100

Loan Approval from the SBA

Of the total $45,100 loan amount, the SBA guaranteed $22,550.

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 9 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 12 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

This SBA loan was for $45,100. How would you spend $45,100 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Borrowing Money from Friends and Family

SBA Approved Banks in Providence, Rhode Island

SBA Lenders in Rhode Island