The Merchants Bank SBA Loan to Eating Places Company

Searching for a Vermont business loan? Here's one Vermont business loan that was approved by the SBA.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with The Merchants Bank, out of Barre, Vermont. The loan was granted and they received $16,000 to help grow their Barre, Vermont business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
BARRE, VT 05644

SBA Loan Lender

THE MERCHANTS BANK
105 N MAIN ST
BARRE, VT 05641

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

8/3/2000

Loan Approval Gross Amount

$16,000

Loan Approval from the SBA

Of the total $16,000 loan amount, the SBA guaranteed $12,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Barre VT, you ought to talk with a local Barre SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Barre businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $16,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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