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March 29, 2024  
 
 
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Raising Money in Tariffville, Connecticut With SBA Loans

 

 
Loan Census SBA Loan Info

Growing Company Gets a Connecticut Bank Loan

Would a Connecticut bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Connecticut bank, which offers SBA loans to Connecticut entrepreneurs.

This company, based in Tariffville, Connecticut, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Simsbury Bank & Trust Inc.. We've got the inside scoop on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
TARIFFVILLE, CT 06081

SBA Loan Lender

SIMSBURY BANK & TRUST INC.
760 HOPMEADOW ST
SIMSBURY, CT 06070

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/26/2007

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 18 employees. The SBA loan documents indicated that the loan would help retain 18 existing jobs.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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.

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 Simsbury Bank & Trust Inc. 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:

How to Raise Money

Small Bank Loans in Simsbury, Connecticut

Getting an SBA Loan in Connecticut