Citibank Gives Business Loan to Big Shots LLC

Looking to get a Connecticut small business loan? This Connecticut entrepreneur got a small business loan, provided by a Florida bank that works with the SBA to help small business owners.

Big Shots LLC, based in Darien (town Of), 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 Citibank. We've got the inside scoop on this Connecticut small business loan.

SBA Loan Borrower

BIG SHOTS LLC
370 HEIGHTS ROAD
DARIEN (TOWN OF), CT 06820

SBA Loan Lender

CITIBANK
8750 DORAL BLVD, 7TH FL
MIAMI, FL 33178

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

812921 - Photofinishing Laboratories (except One-Hour)

Loan Approval Date

10/14/2004

Loan Approval Gross Amount

$142,000

Loan Approval from the SBA

Of the total $142,000 loan amount, the SBA guaranteed $71,000.

More Information on This SBA Loan

The borrower, Big Shots LLC, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. If a firm like Big Shots LLC is able to get a $142,000 loan, why not give getting an SBA loan of your own a try?

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

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