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April 24, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Middletown, Business Loans > Liberty Bank Middletown Business Loans > Machine Shops Loan | ||||
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SBA Lender Portland (town Of) Connecticut
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Growing Company Gets a Connecticut Bank LoanConnecticutBank loans are available to Connecticut firms through the SBA. In this case, a Connecticut bank provides the loan. Getting a small business loan in Portland (town Of), Connecticut was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Liberty Bank. Here are the details on this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender LIBERTY BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 332710 - Machine Shops Loan Approval Date 3/22/2006 Loan Approval Gross Amount $184,100 Loan Approval from the SBA Of the total $184,100 loan amount, the SBA guaranteed $92,050. 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 6 employees. The loan application indicated that the loan would help retain 6 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must 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. While you may be able to find business people willing to loan money, 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: Realistic Debt Financing Options Best Banks for Small Business in Middletown, Connecticut
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