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November 15, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > Derby, Business Loans > Community National Bank Derby Business Loans > Cut Stone And Stone Product Manufacturing Loan | ||||
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Community National Bank
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SBA Loan from Community National Bank Helps Cut Stone And Stone Product Manufacturing CompanyCommunity National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Vermont entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Barre, Vermont was an essential business goal for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Community National Bank, operating out of Derby, Vermont. Here are the details on this Vermont small business loan. SBA Loan Borrower COMPANY TYPE: CUT STONE AND STONE PRODUCT MANUFACTURING SBA Loan Lender COMMUNITY NATIONAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 327991 - Cut Stone and Stone Product Manufacturing Loan Approval Date 3/17/2004 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 a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the funding would help create 3 new jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA 7A Banks in Derby, Vermont Getting an SBA Loan in Vermont
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