SBA Loan from Connecticut Bank & Trust Helps Third Party Administration Of Insurance And Pension Funds Company

Connecticut Bank & Trust 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 Connecticut entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Suffield (suffield Center), Connecticut was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Connecticut Bank & Trust, operating out of Hartford, Connecticut. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: THIRD PARTY ADMINISTRATION OF INSURANCE AND PENSION FUNDS
SUFFIELD (SUFFIELD CENTER), CT 06078

SBA Loan Lender

CONNECTICUT BANK & TRUST
58 STATE HOUSE SQ
HARTFORD, CT 06103

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

524292 - Third Party Administration of Insurance and Pension Funds

Loan Approval Date

7/18/2007

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. This SBA loan request indicated that the loan would help generate 25 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Connecticut Bank & Trust 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:

Obtaining Funding - Friends and Family

SBA Approved Banks in Hartford, Connecticut

SBA Lenders in Connecticut