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April 30, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > New Haven, Business Loans > Newalliance Bank New Haven Business Loans > Eating Places Loan | ||||
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Norwalk, Connecticut Bank Loan
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Norwalk, Connecticut Entrepreneur Gets a Business LoanSearching 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 small business, based in Norwalk, 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 Newalliance Bank. We've got the inside scoop on this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender NEWALLIANCE BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 5/30/2002 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. 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 documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan 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 Newalliance 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: SBA 7A Banks in New Haven, Connecticut Getting an SBA Loan in Connecticut
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