Barre, Vermont Entrepreneur Gets a Bank Loan

Would a Vermont business loan help your company expand? If so, you may want to talk with this Vermont bank, which offers SBA loans to Vermont entrepreneurs.

Getting a small business loan in Barre, Vermont was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from The Merchants Bank. Here are the details on this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: CONCRETE CONTRACTORS
BARRE, VT 05641

SBA Loan Lender

THE MERCHANTS BANK
275 KENNEDY DR
SOUTH BURLINGTON, VT 05403

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235710 - Concrete Contractors

Loan Approval Date

8/9/2002

Loan Approval Gross Amount

$179,300

Loan Approval from the SBA

Of the total $179,300 loan amount, the SBA guaranteed $134,475.

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 13 employees. This SBA loan request indicated that the loan would help retain 13 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The Merchants Bank and they will explain how you can get an SBA loan for your company.

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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