 |
 |
May 9, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Villanova, Business Loans > Sovereign Bank Villanova Business Loans > Beer, Wine, And Liquor Stores Loan | ||||
 |
||||
Small Business Banks That Lend to Connecticut Entrepreneurs
|
||||
 |
Sovereign Bank Gives SBA Loan to Beer, Wine, And Liquor Stores CompanyBusiness loans in Connecticut are are few and far betweeen these days. We take a look at one Connecticut business loan, provided by a Pennsylvania bank, that was approved by the SBA. This company, based in Litchfield, 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 Sovereign Bank. We've got the inside scoop on this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: BEER, WINE, AND LIQUOR STORES SBA Loan Lender SOVEREIGN BANK The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 445310 - Beer, Wine, and Liquor Stores Loan Approval Date 3/24/2005 Loan Approval Gross Amount $179,000 Loan Approval from the SBA Of the total $179,000 loan amount, the SBA guaranteed $89,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. 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. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Raising VC Money for Social Networking Companies Good Banks for Small Business in Villanova, Pennsylvania
|
|
||
|
||||
|
|
||||