New Single-Family Housing Construction Business Loans

With these business loans for new single-family housing construction, the SBA guarantees the lender that the loan will be repaid. This new single-family housing construction loan for $736,000 was given to a Connecticut entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Harwinton, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Apple Valley Bank & Trust, based in Cheshire, Connecticut.

SBA Loan Borrower

COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION
HARWINTON, CT 06791

SBA Loan Lender

APPLE VALLEY BANK & TRUST
286 MAPLE AVE
CHESHIRE, CT 06410

This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

236115 - New Single-Family Housing Construction

Loan Approval Date

2/19/2004

Loan Approval Gross Amount

$736,000

Loan Approval from the SBA

Of the total $736,000 loan amount, the SBA guaranteed $552,000.

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 22 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 Apple Valley Bank & Trust 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:

Startup Funding Tip

Find an SBA Lender in Cheshire, Connecticut

SBA Connecticut Banks