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April 20, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Thomaston, Business Loans > Thomaston Savings Bank Thomaston Business Loans > Family Clothing Stores Loan | ||||
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CT Small Business Loans from Thomaston Savings Bank
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Thomaston Savings Bank SBA Loan to Family Clothing Stores CompanyAn SBA loan from Thomaston Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Watertown, Connecticut business owner got a $40,000 loan. Getting a small business loan in Watertown, Connecticut was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Thomaston Savings Bank, operating out of Thomaston, Connecticut. Here are the details on this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: FAMILY CLOTHING STORES SBA Loan Lender THOMASTON SAVINGS BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . 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. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5651 - Family Clothing Stores NAICS Code 448140 - Family Clothing Stores Loan Approval Date 5/11/2005 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $34,000. 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 4 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Thomaston Savings Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA Banks in Thomaston, Connecticut
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