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May 11, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > Manchester Center, Business Loans > Berkshire Bank Manchester Center Business Loans > Lawyers Loan | ||||
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Small Business Banks for Rutland, Vermont Business Owners
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Raising Money for LawyersLooking for business loans for lawyers? An SBA loan may be just what you've been looking for. This $5,000 lawyers loan was issued by a Vermont bank. This small business knew how to go about getting a business bank loan. Based in Rutland, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Berkshire Bank, based in Manchester Center, Vermont. SBA Loan Borrower COMPANY TYPE: LAWYERS SBA Loan Lender BERKSHIRE 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 541110 - Lawyers Loan Approval Date 7/11/2005 Loan Approval Gross Amount $5,000 Loan Approval from the SBA Of the total $5,000 loan amount, the SBA guaranteed $2,500. 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. This SBA loan request indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Berkshire Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Banks for Small Business in Manchester Center, Vermont
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