Simsbury Bank & Trust Inc. SBA Loan to Manufacturing Industries Company
Want a Connecticut business loan? Here's one Connecticut business loan that was approved by the SBA.
This up and coming company knew how to go about getting a business bank loan. Based in Collinsville, Connecticut, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Simsbury Bank & Trust Inc., based in Granby, Connecticut.
SBA Loan Borrower
COMPANY TYPE: MANUFACTURING INDUSTRIES
COLLINSVILLE, CT 06019
SBA Loan Lender
SIMSBURY BANK & TRUST INC.
11 HARTFORD AVE
GRANBY, CT 06035
This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
3999 - Manufacturing Industries
Loan Approval Date
4/18/2000
Loan Approval Gross Amount
$350,000
Loan Approval from the SBA
Of the total $350,000 loan amount, the SBA guaranteed $262,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 6 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.
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.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Simsbury Bank & Trust Inc. 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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