Colchester, Vermont Business Gets SBA-Guaranteed Funding from Chittenden Trust Company

An SBA loan from Chittenden Trust Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Colchester, Vermont business owner got a $150,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Colchester, Vermont, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Chittenden Trust Company, based in Burlington, Vermont.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL AND COMMERCIAL AUTOMATIC ENVIRONMENTAL CONTROL MANUFACTURING
Colchester, VT 05468

SBA Loan Lender

CHITTENDEN TRUST COMPANY
TWO BURLINGTON SQUARE
BURLINGTON, VT 05401

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

334512 - Residential and Commercial Automatic Environmental Control Manufacturing

Loan Approval Date

10/4/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Chittenden Trust Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

The Friends and Family Network

SBA 7A Banks in Burlington, Vermont

Getting an SBA Loan in Vermont