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April 18, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Vernon, Business Loans > Newalliance Bank Vernon Business Loans > Radiotelephone Communications Loan | ||||
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Banks in Connecticut
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Cellular and Wireless Small Business LoansLooking for small business loans for cellular and wireless? Talk to a banker who works with the SBA. This $63,500 cellular and wireless loan was issued by a Connecticut bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Vernon, Connecticut was able to borrow $63,500 from Newalliance Bank. The SBA made the loan possible by guaranteeing $53,975 of this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: RADIOTELEPHONE COMMUNICATIONS SBA Loan Lender NEWALLIANCE BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4812 - Radiotelephone Communications NAICS Code 513322 - Cellular and Wireless Loan Approval Date 2/26/2003 Loan Approval Gross Amount $63,500 Loan Approval from the SBA Of the total $63,500 loan amount, the SBA guaranteed $53,975. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Newalliance 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: A Company That Helps Entrepreneurs Find an SBA Lender in Vernon, Connecticut
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