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May 9, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > Randolph, Business Loans > Randolph National Bank Randolph Business Loans > Book Stores Loan | ||||
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Randolph National Bank Small Business Loans
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Randolph National Bank SBA Loan to Book Stores CompanyRandolph National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Vermont entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Randolph, Vermont was able to borrow $26,000 from Randolph National Bank. The SBA made the loan possible by guaranteeing $20,800 of this Vermont small business loan. SBA Loan Borrower COMPANY TYPE: BOOK STORES SBA Loan Lender RANDOLPH NATIONAL BANK This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5942 - Book Stores NAICS Code 451211 - Book Stores Loan Approval Date 2/11/2000 Loan Approval Gross Amount $26,000 Loan Approval from the SBA Of the total $26,000 loan amount, the SBA guaranteed $20,800. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees. 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Randolph National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Who Lends Money to Small Businesses in Randolph, Vermont
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