White River Jct., Vermont Entrepreneur Gets a Business Loan

Bank loans in Vermont are are few and far betweeen these days. We take a look at one Vermont bank loan, provided by a New Hampshire bank, that was approved by the SBA.

Getting a small business loan in White River Jct., Vermont was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Mascoma Savings Bank. Here are the details on this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: SEWING, NEEDLEWORK, AND PIECE GOODS STORES
WHITE RIVER JCT., VT 05001

SBA Loan Lender

MASCOMA SAVINGS BANK
67 N PARK ST
LEBANON, NH 03766

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5949 - Sewing, Needlework, and Piece Goods Stores

NAICS Code

451130 - Sewing, Needlework, and Piece Goods Stores

Loan Approval Date

2/15/2000

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in White River Jct. VT, you ought to talk with a local White River Jct. SBA lender or talk with an out-of-area SBA lender that has previously loaned money to White River Jct. businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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