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May 11, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > Manchester Center, Business Loans > Berkshire Bank Manchester Center Business Loans > Hotels And Motels Loan | ||||
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Manchester Center, Vermont Bank for SBA Loans
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Firm Gets a Vermont SBA LoanVermontSmall business loans are available to Vermont small business owners through the SBA. In this case, a Vermont bank provides the loan. By giving the right information to Berkshire Bank, this Manchester Center, Vermont business was able to get an SBA loan. To get this loan, the loan applicant 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: HOTELS AND MOTELS SBA Loan Lender BERKSHIRE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 10/17/2002 Loan Approval Gross Amount $420,000 Loan Approval from the SBA Of the total $420,000 loan amount, the SBA guaranteed $315,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Banks in Manchester Center, Vermont
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