Chittenden Trust Company Gives Small Business Loan to Full-Service Restaurants Company

VermontBank loans are available to Vermont firms through the SBA. In this case, a Vermont bank provides the loan.

You can learn something about getting a small business loan in Colchester, Vermont by studying this loan to a local company, made back in 2003. Banks like Chittenden Trust Company may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
COLCHESTER, VT 05446

SBA Loan Lender

CHITTENDEN TRUST COMPANY
TWO BURLINGTON SQUARE
BURLINGTON, VT 05401

When it made this small business loan, this bank was part of the SBA's Certified Lenders Program (CLP). This program was created to give fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/16/2003

Loan Approval Gross Amount

$530,000

Loan Approval from the SBA

Of the total $530,000 loan amount, the SBA guaranteed $397,500.

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 20 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Colchester VT, you ought to talk with a local Colchester SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Colchester businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Chittenden Trust Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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