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May 4, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Groceries, General Line Loan | ||||
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SBA Lenders for Business Owners in Connecticut
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Connecticut Small Business Loan Issued to Groceries, General Line CompanyLooking to get a Connecticut business loan? This Connecticut entrepreneur got a business loan, provided by a Rhode Island bank that works with the SBA to help small business owners. By giving the right information to Bank Of America, this Hartford, 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: GROCERIES, GENERAL LINE SBA Loan Lender BANK OF AMERICA This loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and a thorough understanding of SBA lending rules and regulations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5141 - Groceries, General Line NAICS Code 422410 - General Line Grocery Wholesalers Loan Approval Date 9/28/2000 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 6 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Obtaining Funding From a Venture Capitalist Best Providence, Rhode Island Banks for Small Business
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