Webster Bank Gives Business Loan to Clothing Stores Company

Searching for a Connecticut small business loan? This Connecticut entrepreneur got a small business loan, provided by a Connecticut bank that works with the SBA to help small business owners.

This business, based in Milford, 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 Webster Bank. We've got the inside scoop on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
MILFORD, CT 06776

SBA Loan Lender

WEBSTER BANK
19 MAIN ST
NEW MILFORD, CT 06776

This bank 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.

NAICS Code

448190 - Clothing Stores

Loan Approval Date

5/25/2004

Loan Approval Gross Amount

$194,800

Loan Approval from the SBA

Of the total $194,800 loan amount, the SBA guaranteed $146,100.

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 2 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 Webster Bank 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:

Obtaining Funding - How to Borrow Money

SBA Banks in New Milford, Connecticut

Find an SBA Lender in Connecticut