Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Wethersfield (town Of), Connecticut Bank Loan

 

 
Loan Census SBA Loan Info

Financing for Florists

With these commercial loans for florists, the SBA guarantees the lender that the loan will be repaid. This florists loan for $10,000 was given to a Connecticut entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in Wethersfield (town Of), Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Connecticut River Commun Bk, based in Wethersfield, Connecticut.

SBA Loan Borrower

COMPANY TYPE: FLORISTS
WETHERSFIELD (TOWN OF), CT 06109

SBA Loan Lender

CONNECTICUT RIVER COMMUN BK
1190 SILAS DEANE HWY
WETHERSFIELD, CT 06109

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

453110 - Florists

Loan Approval Date

10/25/2006

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Getting a Small Business Loan

SBA 7A Lenders in Wethersfield, Connecticut

Connecticut SBA 7A Banks