Business Loan from First County Bank Given to Sporting Goods Stores And Bicycle Shops Company

First County Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Connecticut entrepreneur was able to get a loan to take a small business to the next level.

This small firm knew how to go about getting a business bank loan. Based in Stamford, Connecticut, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was First County Bank, based in Stamford, Connecticut.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
STAMFORD, CT 06901

SBA Loan Lender

FIRST COUNTY BANK
2950 SUMMER ST
STAMFORD, CT 06905

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5941 - Sporting Goods Stores and Bicycle Shops

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

4/18/2002

Loan Approval Gross Amount

$201,500

Loan Approval from the SBA

Of the total $201,500 loan amount, the SBA guaranteed $151,125.

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 4 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from First County Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

The Art of Bootstrapping

Small Bank Loans in Stamford, Connecticut

SBA Participating Banks in Connecticut