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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 > Tires And Tubes Loan | ||||
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We Needed a Business Loan in Rutland, Vermont and We Got One!
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Tire Retreading Commercial LoansLooking for commercial loans for tire retreading? The SBA may be the answer. This $300,000 tire retreading loan was issued by a Vermont bank. This 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 2001. The lending bank was Berkshire Bank, based in Manchester Center, Vermont. SBA Loan Borrower COMPANY TYPE: TIRES AND TUBES SBA Loan Lender BERKSHIRE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5014 - Tires and Tubes NAICS Code 326212 - Tire Retreading Loan Approval Date 11/2/2001 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. 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 45 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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 Berkshire 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: Best Banks for Small Business in Manchester Center, Vermont
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