Raising Money for General Rental Centers

Looking for business loans for general rental centers? The SBA may be the answer. This $815,000 general rental centers loan was issued by a Connecticut bank.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with People's United Bank, out of Bridgeport, Connecticut. The loan was granted and they received $815,000 to help grow their Monroe, Connecticut business.

SBA Loan Borrower

COMPANY TYPE: EQUIPMENT RENTAL AND LEASING
MONROE, CT 06468

SBA Loan Lender

PEOPLE'S UNITED BANK
850 MAIN ST
BRIDGEPORT, CT 06604

This lender issued this business 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.

SIC Code

7359 - Equipment Rental and Leasing

NAICS Code

532310 - General Rental Centers

Loan Approval Date

5/18/2001

Loan Approval Gross Amount

$815,000

Loan Approval from the SBA

Of the total $815,000 loan amount, the SBA guaranteed $611,250.

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 10 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Monroe CT, you ought to talk with a local Monroe SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Monroe businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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